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27-29-11.1
Section 27-29-11.1 Recovery rights of receivers. (a) If an order for liquidation or rehabilitation
of a domestic insurer has been entered, the receiver appointed under the order shall have
a right to recover on behalf of the insurer, (1) from any parent corporation, holding company,
person, or affiliate who otherwise controlled the insurer, the amount of distributions, other
than distributions of shares of the same class of stock, paid by the insurer on its capital
stock, or (2) any payment in the form of a bonus, termination settlement, or extraordinary
lump sum salary adjustment made by the insurer or its subsidiary to a director, officer, or
employee, where the distribution or payment pursuant to (1) or (2) is made at any time during
the one year preceding the petition for liquidation, conservation, or rehabilitation, as the
case may be, subject to the limitations of subsections (b), (c), and (d). (b) No distribution
shall be recoverable if the parent or affiliate shows that when...
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27-31A-2
investment policies, and reinsurance agreements. g. Identification of each state in which the
risk retention group has obtained, or sought to obtain, a charter and license, and a description
of its status in each state. h. Other matters as may be prescribed by the Commissioner of
Insurance, or like official, in which the risk retention group is chartered for liability
insurance companies authorized by the insurance laws of that state. (9) PRODUCT LIABILITY.
Liability for damages because of any personal injury, death, emotional harm,
consequential economic damage, or property damage, including damages resulting from the loss
of use of property, arising out of the manufacture, design, importation, distribution, packaging,
labeling, lease, or sale of a product, but does not include the liability of any person for
those damages if the product involved was in the possession of the person when the incident
giving rise to the claim occurred. (10) PURCHASING GROUP. Any group which meets all...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31A-2.htm - 8K - Match Info - Similar pages
32-7C-4
Section 32-7C-4 Coverage exclusions; disclosures. (a) Insurers that write automobile insurance
in this state may exclude any and all coverage afforded under the policy issued to an owner
or operator of a personal vehicle for any loss or injury that occurs while a
TNC driver is logged on to the digital network of a TNC or while a TNC driver provides a prearranged
ride. (b) The right to exclude all coverage may apply to any coverage included in an automobile
insurance policy, including, but not limited to, any of the following: (1) Liability coverage
for bodily injury and property damage. (2) Personal injury protection
coverage as defined by state law. (3) Uninsured and underinsured motorist coverage. (4) Medical
payments coverage. (5) Comprehensive physical damage coverage. (6) Collision physical damage
coverage. (c) The exclusions under this section shall apply notwithstanding any requirements
under the Motor Vehicle Safety-Responsibility Act, Chapter 7 of this title. (d) Nothing in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7C-4.htm - 5K - Match Info - Similar pages
41-14A-9
Section 41-14A-9 Procedures for payment of losses. (a) When the State Treasurer becomes aware
that a default or insolvency has occurred, the State Treasurer shall provide notice as required
in subsection (b) and implement the following procedures: (1) The State Treasurer shall obtain
information from the Superintendent of Banks of the State Banking Department or the receiver
of the qualified public depository in default in order to ascertain the amount of funds of
each public depositor on deposit at such depository and the amount of deposit insurance applicable
to such deposits. (2) The potential loss to public depositors shall be calculated by compiling
claims received from public depositors. The State Treasurer shall validate claims of public
depositors who filed claims under subsection (b) and which have been confirmed under subdivision
(1). (3) The loss to public depositors shall be satisfied, insofar as possible, first through
any applicable deposit insurance and then through the...
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11-62-8
any authority may enter into contracts with the holders of any of its bonds or notes preventing
such authority from thereafter issuing general obligation bonds or notes or limiting the amount
of such bonds or notes that may thereafter be issued. To the extent permitted by any contracts
with the holders of outstanding bonds and notes and any other contractual obligations or requirements,
any authority may pledge any of its revenues or mortgage or assign any of its assets, whether
real or personal and whether tangible or intangible, to secure the payment of any of
its bonds or notes. (d) All obligations created or assumed by any authority and all bonds
or notes issued thereby shall be solely and exclusively an obligation of such authority and
shall not create an obligation or debt of the state, the determining municipality or any other
political subdivision of the state or public corporation or governmental agency existing under
the laws thereof; provided, that the provisions of this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-62-8.htm - 12K - Match Info - Similar pages
15-23-15
Section 15-23-15 Amount and method of compensation; future economic loss generally; exemption
from state and local taxes, etc. (a) Compensation for work loss, replacement services loss,
dependent's economic loss, and dependent's replacement services loss may not exceed six hundred
dollars ($600) per week. (b) Compensation payable to a victim and to all other claimants sustaining
economic loss because of injury to or death of that victim may not exceed twenty thousand
dollars ($20,000) in the aggregate. (c) The commission may provide for the payment to a claimant
in a lump sum or in installments. At the request of the claimant, the commission may convert
future economic loss, other than allowable expense, to a lump sum, but only upon a finding
by the commission that the award in a lump sum will promote the interests of the claimant.
(d) An award payable in installments for future economic loss may be made only for a period
as to which the commission can reasonably determine future...
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27-7-14.1
annuities, and may include benefits in the event of death or dismemberment by accident and
benefits for disability income. (2) ACCIDENT AND HEALTH OR SICKNESS, commonly known as disability.
Insurance coverage for sickness, bodily injury, or accidental death and may include
benefits for disability income. (3) PROPERTY. Insurance coverage for the direct or consequential
loss or damage to property of every kind. (4) CASUALTY. Insurance coverage against legal liability,
including that for death, injury, or disability or damage to real or personal
property, and surety. (5) VARIABLE LIFE and VARIABLE ANNUITY PRODUCTS. Insurance coverage
provided under variable life insurance contracts and variable annuities. (6) PERSONAL
LINES. Property and casualty insurance coverage sold to individuals and families for primarily
noncommercial purposes. (7) CREDIT. Limited line credit insurance. (8) BAIL BOND. Surety coverage
for bail, as defined in Chapter 13 of Title 15. (9) RENTAL VEHICLE. As...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-14.1.htm - 4K - Match Info - Similar pages
32-7-7
Section 32-7-7 Further exceptions to requirement of security. The requirements as to security
and suspension in Section 32-7-6 shall not apply to any of the following persons: (1) The
operator or the owner of a motor vehicle involved in an accident wherein no injury
or damage was caused to the person or property of anyone other than the operator or owner.
(2) The operator or the owner of a motor vehicle legally parked at the time of the accident.
(3) The owner of a motor vehicle if at the time of the accident the vehicle was being operated
without the permission of the owner, express or implied, or was parked by a person who had
been operating the motor vehicle without the permission. (4) If, prior to the date that the
director would otherwise suspend license and registration or nonresident's operating privilege
under Section 32-7-6, there shall be filed with the director evidence satisfactory to him
or her that the person who would otherwise have to file security has been released...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7-7.htm - 1K - Match Info - Similar pages
34-28A-44
Section 34-28A-44 Employment, discharge, etc., of executive secretary and other officers and
employees; admissibility in evidence of copies of proceedings, records, etc., of board; monthly
report and disposition of revenues received under chapter; payment of administrative expenses
of board, employee salaries, etc. (a) The board may employ, and at its pleasure discharge,
an executive secretary and other officers and employees as may be necessary, and the board
shall also outline their duties and fix their compensation and expense allowances. (b) The
board shall adopt a seal by which it shall authenticate its proceedings. Copies of the proceedings,
records and acts of the board, and certificates purporting to relate the facts concerning
the proceedings, records, and acts signed by the secretary and authenticated by the seal shall
be prima facie evidence in all the courts of this state. (c) The board shall report to the
state Comptroller by the fifth day of each month the amount and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-28A-44.htm - 2K - Match Info - Similar pages
6-5-751
at the time of delivery to the first purchaser or upon replacing or adding a component part
that is alleged to have been a proximate cause of an accident. While protecting such manufacturers
during a remote period beginning long after the completion of their work, the article imposes
no unfair burden on the injured, deceased, or damaged party because a party is still afforded
an avenue of legal redress from others who are more likely to have been responsible for or
could have prevented such injury, death, or damage. (d) It is thus the legislative
objective to provide for the abolishing of rights of action, with certain exceptions, against
commercial aviation aircraft manufacturers that would have accrued after the passage of 12
years from delivery to the first purchaser or from replacing or adding a component part that
is alleged to have been a proximate cause of an accident, and all such actions will be forever
barred without relief to a claimant. Where causes of action accrue during...
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