27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted Insurance sold to, solicited by, or negotiated with an insured whose Home State is another State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
40-7-15
Section 40-7-15 Property to be appraised at fair market value. Except as otherwise provided by law, for the purpose of assessment, real and personal property shall be appraised at its fair and reasonable market value, according to the best judgment the assessor, the board of equalization, and agents of the Department of Revenue can form upon information, inspection, or otherwise, taking into consideration all elements or factors bearing on such value as heretofore or hereafter authorized; mineral, coal, oil, gas, timber, and turpentine interests, when they have been severed in ownership from the soil, by sale or otherwise, shall be separately appraised and assessed. Notwithstanding the above, all property under lease as of October 1, 1978, which lease does not provide for a direct passthrough of property taxes to the lessee, shall be appraised solely on the basis of the economic net return to the owner. (Acts 1935, No. 194, p. 256; Code 1940, T. 51, §46; Acts 1978, 2nd Ex. Sess., No....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-15.htm - 1K - Match Info - Similar pages
40-29-28
Section 40-29-28 Redemption of property. (a) Before sale. Any person whose property has been levied upon hereunder or subject to execution under Section 40-2-11 shall have the right to pay the amount due, together with the expenses of the proceeding, if any, to the commissioner or his delegate at any time prior to the sale thereof, and upon such payment the commissioner or his delegate shall restore such property to him, and all further proceedings in connection with the levy on such property shall cease from the time of such payment. (b) Redemption of real estate after sale. (1) PERIOD. The owners of any real property sold as provided in Section 40-29-26, their heirs, executors, or administrators, or any person having any interest therein, or a lien thereon, or any person in their behalf, shall be permitted to redeem the property sold, or any particular tract of such property, at any time within one year after the sale thereof. Real property purchased by the state at said sale may be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-28.htm - 2K - Match Info - Similar pages
40-7-25.2
Section 40-7-25.2 Current use value of Class III property - Qualification procedure; appeal from denial of application; new owner required to reapply upon sale of property. (a) Any owner of eligible taxable property described in Section 40-7-25.1 may apply to have such property assessed for purposes of ad valorem taxation at the appropriate ratio of assessed value to the current use value of such property by filing a written application, in form as prescribed by the Department of Revenue, with the tax assessor of the county in which such property is located, on and after October 1 but not later than January 1 in any taxable year; provided, however, that with respect to assessments of eligible taxable property respecting the taxable year that began on October 1, 1981, such applications may be filed with the tax assessor not later than June 30, 1982. (b) The application form for qualification of real property as agricultural property shall set forth a description of the real property, a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-7-25.2.htm - 3K - Match Info - Similar pages
40-29-24
Section 40-29-24 Surrender of property subject to levy; "person" defined. (a) Requirement. Except as otherwise provided in subsection (b), any person in possession of (or obligated with respect to) property or rights to property subject to levy upon which a levy has been made shall, upon demand of the Commissioner of Revenue or his delegate, surrender such property or rights (or discharge such obligation) to the Commissioner of Revenue or his delegate, except such part of the property or rights as is, at the time of such demand, subject to an attachment or execution under any judicial process. (b) Enforcement of levy. (1) EXTENT OF PERSONAL LIABILITY. Any person who fails or refuses to surrender any property or rights to property, subject to levy, upon demand by the Commissioner of Revenue, shall be liable in his own person and estate to the State of Alabama in a sum equal to the value of the property or rights not so surrendered, but not exceeding the amount of taxes for the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-24.htm - 3K - Match Info - Similar pages
40-29-31
Section 40-29-31 Records of sales to be kept. The commissioner or his delegate shall keep a record of all sales of real property sold under Section 40-29-26 and of redemptions of such property. The record shall set forth the tax for which the sale was made, the dates of seizure and sale, the amount of the expenses, the name of purchaser and the date of the deed. A deed to the State of Alabama by virtue of its purchase at the sale shall be promptly recorded in the probate office of the county or counties where the property is located. (Acts 1983, 4th Ex. Sess., No. 83-891, p. 128, §14.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-29-31.htm - 900 bytes - Match Info - Similar pages
11-40-67
Section 11-40-67 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2017 REGULAR SESSION, EFFECTIVE MAY 16, 2017. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Redemption of property prior to sale by payment of redemption amount. (a) At any point prior to the moment of the sale, any interested party may redeem the real property from the sale by payment of the redemption amount. Payment shall be made to the Class 2 municipality. Following receipt of the payment, the Class 2 municipality shall file for dismissal of the proceedings. (b) In the event of the payment by the owner of the real property, the proceedings shall be dismissed and the rights and interests of all interested parties shall remain unaffected. (c) In the event of payment by any interested party other than the owner, the party making the payment shall possess a lien on the real property for the full amount of the payment, which lien shall have the same priority as the municipal code lien discussed in subsection (b)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-40-67.htm - 1K - Match Info - Similar pages
11-40-68
Section 11-40-68 Foreclosure sale; form of deed. (a) Following the hearing and order of the court in accordance with Section 11-40-66, the court shall cause a sale of the real property to be advertised and conducted by the court in a manner similar to that procedure contemplated by Section 40-10-15. The sale shall not occur earlier than 45 days following the date of the order of the court. (b) Except as otherwise authorized by law, the minimum bid price for the sale of the real property shall be the redemption amount. (1) In the absence of any bid higher than the minimum bid price, the court or its designee shall bid in for the real property on behalf of the Class 2 municipality or its designee in an amount equal to the minimum bid price, thereby causing the Class 2 municipality to become the purchaser at the sale pursuant to Section 11-40-66. (2) A bid in on behalf of the Class 2 municipality or its designee shall be tendered as a credit bid for that part of the minimum bid price...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-40-68.htm - 7K - Match Info - Similar pages
45-49-91.21
Section 45-49-91.21 Land use control fee. The Mobile County Commission shall levy upon owners of any real property located within the district which has elected to come under the jurisdiction of the board, a uniform land use control fee that shall be equal to 1/10 mill of the appraised value of the parcel as determined by the Mobile County Revenue Commissioner. However, in no case shall this fee be less than three dollars ($3) per parcel. Property exempt from fees and taxes under Act 41 and Act 91 are exempt from the land use control fee provided for under this section. The Mobile County Revenue Commissioner shall assess the land use control fee on the real property subject to the land use control fee within the district. The fee shall be assessed and collected at the same time and in the same manner as ad valorem taxes due on the property. The board may bring civil action for the collection of the fee, and collection costs, upon the failure of a property owner to pay the fee as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-91.21.htm - 1K - Match Info - Similar pages
41-15-4
Section 41-15-4 Value for which state property to be insured; annual certification; gap coverage and gap plus coverage; survey of public property; sale or salvage of insured items. (a) All covered property, unless otherwise provided in this section, shall be insured for no more than its replacement cost and shall be insured for no less than 80 percent of its actual cash value. Replacement cost coverage may be provided with an amount of insurance as agreed upon by the proper insuring authority and the risk manager based upon a written statement of values. Replacement cost shall be the cost to repair or replace property with comparable materials of like kind and quality by generally accepted construction methods or technology to serve the same function as the lost or damaged property. No payment for a loss shall exceed the limit of the policy. (b) The officer or person having charge by law of insuring any public building, contents, machinery, and equipment shall annually certify to the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-15-4.htm - 6K - Match Info - Similar pages
|