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41-15-6
Section 41-15-6 Payment of premiums generally. All premiums shall be paid to the Department
of Finance, not later than 60 days from the effective date of such insurance or renewal thereof,
by the treasurer or executive officer of the agency affected. Such funds shall be promptly
transmitted to the State Treasurer, who shall place the same to the credit of the State Insurance
Fund. Upon failure or refusal of any officer to comply with the provisions of this section
with regard to the payment of premiums, the state Comptroller shall, when requested by the
Director of the Department of Finance, deduct from any funds due or which may become due the
delinquent amount of unpaid premiums and pay the same to the State Insurance Fund. (Acts 1923,
No. 593, p. 769; Code 1923, §8544; Acts 1936-37, Ex. Sess., No. 219, p. 260; Acts 1939, No.
112, p. 144; Code 1940, T. 28, §322; Acts 1949, No. 675, p. 1045, §5; Acts 1990, No. 90-569,
p. 966, §6.)...
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41-4-301
Section 41-4-301 Function, powers and duties. The function, powers and duties of the division
of risk management shall be as follows: (1) To carry out the provisions of Section 41-15-1
et seq., relating to the State Insurance Fund and Section 36-1-6.1 relating to the State Liability
Insurance Fund; (2) To assist and advise the Finance Director on insurance and bonding matters;
(3) To provide information and recommendations to the Legislature when requested; (4) To provide
programs and/or guidelines leading to premium and financial risk reductions, to include collection
and investment of premiums, rate making, and claims administration; and (5) To make, with
the approval of the Finance Director, rules and regulations necessary to implement the provisions
of this article. (Acts 1990, No. 90-672, p. 1300, §2.)...
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27-31A-5
Section 27-31A-5 Compulsory associations. (a) No risk retention group shall be required or
permitted to join or contribute financially to any insurance insolvency guaranty fund, or
similar mechanism, in this state, nor shall any risk retention group, or its insureds, or
claimants against its insureds, receive any benefit from any fund for claims arising under
the insurance policies issued by that risk retention group. (b) When a purchasing group obtains
insurance covering its members' risks from an insurer, not authorized in this state or a risk
retention group, no risk, wherever resident or located, shall be covered by any insurance
guaranty fund or similar mechanism in this state. (c) When a purchasing group obtains insurance
covering its members' risks from an authorized insurer, only risks resident or located in
this state shall be covered by the Alabama Insurance Guaranty Association, subject to Chapter
42 (commencing with Section 27-42-1), Title 27. (d) Notwithstanding Article 2...
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27-31E-2
Section 27-31E-2 Strengthen Alabama Homes Program; grants, funding. (a) There is established
within the Department of Insurance, the Strengthen Alabama Homes Program. (b) There is established
the Strengthen Alabama Homes Fund within the State Treasury for the use of the department
to administer the program. (c) This chapter does not create an entitlement for property owners
or obligate the state in any way to fund the inspection or retrofitting of residential property
in this state. Implementation of this program is subject to annual legislative appropriations,
receipt of federal grants or funds, or receipt of other sources of grants or funds. The department
shall use its best efforts to obtain grants or funds from the federal government or other
funding sources to supplement the financial resources of the program that may be provided
by the state. (d) Monies in the program shall be deposited in the Strengthen Alabama Homes
Fund. Monies shall not lapse, unless otherwise specified under...
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27-40-14
Section 27-40-14 Exclusive jurisdiction of Department of Insurance. When a premium finance
company has complied with the licensing provisions of this chapter, it shall not be subject
to any other licensing or regulatory agency of the State of Alabama other than the Department
of Insurance. (Acts 1975, No. 1042, p. 2088, §14.)...
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27-6B-2
Section 27-6B-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCREDITED STATE.
A state in which the Department of Insurance meets the minimum financial qualifications and
regulatory standards promulgated and established, from time to time, by the National Association
of Insurance Commissioners. (2) COMMISSIONER. The Commissioner of Insurance. (3) CONTROL or
CONTROLLED. The same as defined in Section 27-29-1. (4) CONTROLLED INSURER. A licensed insurer
who is controlled, directly or indirectly, by a producer. (5) CONTROLLING PRODUCER. A producer
who, directly or indirectly, controls an insurer. (6) LICENSED INSURER or INSURER. Any person,
firm, association, or corporation duly licensed to transact a property and casualty insurance
business in this state. For the purposes of this chapter, the following are not licensed insurers:
a. A residual market pool and a joint...
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41-9-73
Section 41-9-73 Appropriations for payment of awards, etc. There is hereby appropriated annually
out of the General Fund of the State of Alabama, the State Insurance Fund, the fund of the
Department of Corrections, the Education Trust Fund, the Special Mental Health Fund or any
other fund of the state, to be determined by the Board of Adjustment, an amount, not exceeding
$1,000,000.00 for each fiscal year, as may be necessary to pay the claims ordered paid by
the Board of Adjustment and its expenses. There is also hereby appropriated, for each fiscal
year, an additional amount, not exceeding $175,000.00, from funds of the State Department
of Transportation to pay the claims chargeable against the State Department of Transportation
which are ordered paid by the Board of Adjustment and its expenses. There is also appropriated,
in addition to the foregoing appropriations, from the State General Fund to the State Board
of Adjustment, the sum of $400,000.00 for each fiscal year for the...
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11-30-4
Section 11-30-4 Filing of bylaws and schedule of benefits and charges with State Insurance
Commissioner; exemption from regulation and from premium tax. Each liability self-insurance
fund established under the provisions of this chapter shall file with the State Insurance
Commissioner a copy of its bylaws and schedule of benefits and charges. Such group, however,
shall be exempt from regulation by the Department of Insurance of the State of Alabama and
all premiums or charges collected shall be exempt from insurance premium tax. (Acts 1986,
No. 86-499, p. 954, §4.)...
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22-35-4
Section 22-35-4 Alabama Underground and Aboveground Storage Tank Trust Fund. There is hereby
created the Alabama Underground and Aboveground Storage Tank Trust Fund, hereinafter referred
to as the "fund," to be administered by the Secretary-Treasurer of the Retirement
Systems of Alabama. The fund shall be used by the department as a revolving fund for carrying
out the purposes of this chapter. The fund is not an insurance company and the laws relating
to the conduct of business in this state by an insurance company do not apply to the fund.
A decision that underground or aboveground storage tanks are ineligible for benefits under
the fund does not expose the fund, the director, department, or commission to a claim of bad
faith as such terms are used in general insurance law. Further, in no event shall combined
claims against the fund for payment of response actions and third-party claims exceed the
per occurrence indemnification limit set by the commission. Under no circumstances shall...
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27-31A-3
Section 27-31A-3 Risk retention groups chartered in this state. (a)(1) A risk retention group
shall, pursuant to this title, be chartered and licensed to write only liability insurance
pursuant to this chapter and, except as provided elsewhere in this chapter, shall comply with
all of the laws, rules, regulations, and requirements applicable to the insurers chartered
and licensed in this state and with Section 27-31A-4, to the extent the requirements are not
a limitation on laws, rules, regulations, or requirements of this state. (2) Notwithstanding
any other provision to the contrary, all risk retention groups chartered in this state shall
file with the department and the National Association of Insurance Commissioners (NAIC) an
annual statement in a form prescribed by the NAIC and, if required by the commissioner, in
electronic format. The statement shall be completed in accordance with its instructions and
the NAIC Accounting Practices and Procedures Manual. (b) Before it may offer...
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