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27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby
agrees to the following interstate compact known as the Interstate Insurance Product Regulation
Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and
cooperative action among the compacting states: 1. To promote and protect the interest of
consumers of individual and group annuity, life insurance, disability income, and long-term
care insurance products; 2. To develop uniform standards for insurance products covered under
the compact; 3. To establish a central clearinghouse to receive and provide prompt review
of insurance products covered under the compact and, in certain cases, advertisements related
thereto, submitted by insurers authorized to do business in one or more compacting states;
4. To give appropriate regulatory approval to those product filings and advertisements satisfying
the applicable uniform standard; 5. To improve coordination of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-60-2.htm - 45K - Match Info - Similar pages
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
45-37-123.54
Section 45-37-123.54 Rehired members. If a member of the system severs employment with the
county or his or her term in an elected or appointed job or position terminates, and such
member thereafter returns to the service of the county, he or she shall become a member of
the system to the extent he or she meets the definition of an eligible employee, subject to
the following rules: (1) MEMBER RECEIVING A PENSION BENEFIT. If a member is receiving his
or her pension benefit on account of retirement and such member returns to the service of
the county, any amount otherwise payable by the system to such member on account of such member's
retirement shall be reduced by the amount, if any, paid or payable to such member by the county
on account of or by reason of the reemployment of such member. At the time the member thereafter
severs employment with the county, such member's pension benefit shall return to the amount
it was prior to the member's reemployment. Accordingly, notwithstanding...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.54.htm - 3K - Match Info - Similar pages
40-9-37
Section 40-9-37 Military death benefits. (a) This section shall be known and may be cited as
the Jason Barfield Act. (b) Any payment made by the United States Department of Defense as
a result of the death of a member of the Armed Forces of the United States who has been killed
in action in a United States Department of Defense designated combat zone and was a resident
of the State of Alabama at the time of his or her death shall be exempt from Alabama income
tax during the taxable year in which the individual is declared deceased by the Armed Forces.
Any income earned by the spouse of a member of the Armed Forces of the United States who has
been killed in action in a United States Department of Defense designated combat zone shall
be exempt from Alabama income tax during the taxable year in which the individual is declared
deceased by the Armed Forces. (c) In any case where income tax has been paid upon any income
exempt pursuant to subsection (b), the tax monies shall be refunded to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-9-37.htm - 1K - Match Info - Similar pages
45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.01.htm - 27K - Match Info - Similar pages
45-37A-51.237
Section 45-37A-51.237 Payment of benefits during period of reemployment. (a) Anything herein
to the contrary notwithstanding and except as provided in subsection (b), no retirement benefits
of whatever kind or description shall be payable to any former participant for any period
during which the former participant is employed by the city, is due a salary from the city,
or has been paid a salary by the city, except persons elected by the people to serve the city
shall have the option of continuing to receive either retirement benefits or the compensation
for the office to which that person is elected, or that person may choose to receive both
such benefits and compensation. (b)(1) For the purposes of this section, "retired public
safety officer" means a retired law enforcement officer who was employed by the city
or a retired firefighter who was employed by the city. (2) Notwithstanding subsection (a),
a retired public safety officer who was employed by the city may be subsequently...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37A-51.237.htm - 3K - Match Info - Similar pages
16-25-153
Section 16-25-153 Incentives for participation in plan. Notwithstanding the foregoing provisions
of this article or any other laws to the contrary, no employer whose employees are covered
under the Teachers' Retirement System shall offer any incentives of value including, but not
limited to, monetary payments, prepayment of health insurance, or extraordinary payments for
accrued leave, contingent on the member applying for or electing to participate in DROP. This
provision shall not apply to regular payments for leave or contributions toward health insurance,
but shall serve to prevent any extraordinary benefits or incentives offered during a limited
time period solely for the purpose of enticing employees to elect to participate in DROP.
(Act 2002-23, p. 31, §3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-153.htm - 1K - Match Info - Similar pages
36-27-174
Section 36-27-174 Incentives for participation in plan. Notwithstanding the foregoing provisions
of this article or any other laws to the contrary, no employer whose employees are covered
under the Employees' Retirement System shall offer any incentives of value including, but
not limited to, monetary payments, prepayment of health insurance, or extraordinary payments
for accrued leave, contingent on the member applying for or electing to participate in DROP.
This provision shall not apply to regular payments for leave or contributions toward health
insurance, but shall serve to prevent any extraordinary benefits or incentives offered during
a limited time period solely for the purpose of enticing employees to elect to participate
in DROP. (Act 2002-23, p. 31, §4.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-174.htm - 1K - Match Info - Similar pages
16-25-3
Section 16-25-3 Membership; membership credit for service in armed forces of United States;
deferred benefits. (a) The membership of the retirement system shall consist of the following:
All persons who shall become teachers after the date of establishment shall become members
of the retirement system as a condition of their employment. Any person who is a teacher on
the date of establishment shall become a member as of that date unless within a period of
90 days next following such teacher shall file with the Board of Control on a form prescribed
by the board a notice of his election not to be covered in the membership of the system and
a duly executed waiver of all present and prospective benefits which would otherwise inure
to him on account of his participation in the retirement system. (b) A teacher in service
on October 1, 1973, whose membership in the retirement system was contingent on his own election
and who elected not to become a member may thereafter apply for and be...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-25-3.htm - 7K - Match Info - Similar pages
36-27-4
Section 36-27-4 Membership - Generally; denial of membership; absence from service; military
service. (a) The membership of the retirement system shall be composed as follows: (1) All
persons who shall become employees after October 1, 1945, shall become members of the retirement
system as a condition of their employment. (2) Any person who is an employee on October 1,
1945, shall become a member as of that date unless, within a period of 90 days next following,
such employee shall file with the Board of Control on a form prescribed by the board a notice
of his or her election not to be covered in the membership of the system and a duly executed
waiver of all present and prospective benefits which would otherwise inure to him or her on
account of his or her membership in the retirement system. (3) An employee whose membership
in the retirement system is contingent on his or her own election and who elects not to become
a member may thereafter apply for and be admitted to membership...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-27-4.htm - 9K - Match Info - Similar pages
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