|
27-31B-6
Section 27-31B-6 Minimum capital and surplus. (a) No captive insurance company shall
be issued a license unless it shall possess and thereafter maintain unimpaired paid-in capital
and surplus as follows: (1) In the case of a pure captive insurance company, not less than
two hundred fifty thousand dollars ($250,000) or such other amount determined by the commissioner
and actuarially supported by a feasibility study. (2) In the case of an association captive
insurance company or risk retention group, not less than five hundred thousand dollars ($500,000)
or such other amount determined by the commissioner and actuarially supported by a feasibility
study. (3) In the case of an industrial insured captive insurance company, not less than five
hundred thousand dollars ($500,000). (4) In the case of a protected cell captive insurance
company, not less than two hundred fifty thousand dollars ($250,000) or such other amount
determined by the commissioner and actuarially supported by a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-6.htm - 3K - Match Info - Similar pages
27-36-2
Section 27-36-2 Unearned premium reserve - Title insurance. (a) In addition to an adequate
reserve as to outstanding losses as required under Section 27-36-1, a title insurer
shall maintain an unearned premium reserve of not less than an amount computed as follows:
(1) Ten percent of the total amount of the risk premiums written in the calendar year for
title insurance contracts shall be assigned originally to the reserve; and (2) During each
of the 20 years next following the year in which the title insurance contract was issued,
the reserve applicable to the contract shall be reduced by five percent of the original amount
of such reserve. (b) The insurer may credit upon the reserve provided for by this section
the amount of its deposit made under Section 27-3-13. (c) Title insurance risk premium
shall not include charges for abstracting, record searching, certificates as to the record
title, escrow and closing services, and other related services which may be offered or furnished,
or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36-2.htm - 1K - Match Info - Similar pages
39-2-2
Section 39-2-2 Advertisement for and opening of sealed bids for public works contracts;
violations; exclusions; emergency actions; sole source specification. (a) Before entering
into any contract for a public works involving an amount in excess of fifty thousand dollars
($50,000), the awarding authority shall advertise for sealed bids, except as provided in subsection
(j). If the awarding authority is the state or a county, or an instrumentality thereof, it
shall advertise for sealed bids at least once each week for three consecutive weeks in a newspaper
of general circulation in the county or counties in which the improvement or some part thereof,
is to be made. If the awarding authority is a municipality, or an instrumentality thereof,
it shall advertise for sealed bids at least once in a newspaper of general circulation published
in the municipality where the awarding authority is located. If no newspaper is published
in the municipality, the awarding authority shall advertise by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-2.htm - 9K - Match Info - Similar pages
5-18A-12
Section 5-18A-12 Transaction fees; renewal or extension; repayment; bad check charge.
(a) Subject to the following subsections, every licensee under this chapter may charge and
collect a maximum fee on any deferred presentment transaction not to exceed 17.5 percent of
the amount advanced. The maximum amount that may be advanced in any deferred presentment transaction
is five hundred dollars ($500). (b) Each licensee may renew or extend a deferred presentment
transaction with the same customer no more than one additional time at this fee for a maximum
of two continuous transactions. After two continuous transactions with the customer, the licensee
shall not enter into a new deferred presentment transaction with that same customer until
the next business day after the transaction amount is repaid in full. After the customer has
redeemed the check in full with cash or guaranteed funds, the licensee has the same authority
as any other licensee to enter into another agreement for deferred...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-18A-12.htm - 2K - Match Info - Similar pages
2-3A-50
Section 2-3A-50 Issuance of bonds; obligation of state; proceeds; specifications. In
order to implement Constitutional Amendment 619 authorizing the issuance by the state of five
million seven hundred thousand dollars ($5,700,000) principal amount of its general obligation
bonds, which amendment was proposed by Act 98-412 of the 1998 Regular Session of the Legislature,
the Alabama Agricultural Development Authority shall, in addition to all other powers that
may be exercised by said authority, have the power to issue and sell for the state, subject
to the approval of the Governor, interest bearing general obligation bonds of the state not
in excess of five million seven hundred thousand dollars ($5,700,000) in principal amount,
as authorized by said amendment. Such bonds shall not be obligations of said authority but
shall be general obligations of the State of Alabama with the full faith and credit and taxing
power of the state to be pledged to the prompt and faithful payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-3A-50.htm - 2K - Match Info - Similar pages
27-40-1
Section 27-40-1 Definitions. For the purposes of this chapter, the following words and
phrases shall have the following meanings: (1) INSURANCE PREMIUM FINANCE COMPANY. A person
engaged in the business of entering into premium finance agreements. (2) PREMIUM FINANCE AGREEMENT.
An agreement by which an insured or prospective insured promises to pay to a premium finance
company the amount advanced or to be advanced under the agreement to an insurer or to an insurance
agent or broker in payment of premiums on an insurance contract together with a service charge,
as authorized and limited by this chapter, and charges for wind mitigation construction financing,
as approved by the commissioner. (3) LICENSEE. A premium finance company holding a license
issued under this chapter. (4) PERSON. An individual, partnership, association, business corporation,
nonprofit corporation, common law trust, joint-stock company, or any other group of individuals
however organized. (5) INSURANCE CONTRACT. The...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-40-1.htm - 1K - Match Info - Similar pages
40-17-363
Section 40-17-363 Funding. There is appropriated to the Department of Revenue, as a
first charge against the revenues collected under the provisions of this article for the fiscal
year ending September 30, 2012, one hundred fifty thousand dollars ($150,000), to be utilized
for the implementation and administration of this article, and every year thereafter as a
first charge against the revenues collected under the provisions of this article, an amount
of revenue shall be appropriated to the department to offset its costs in the administration
of this article. (Act 2011-565, p. 1084, ยง46.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-17-363.htm - 904 bytes - Match Info - Similar pages
40-18-392
Section 40-18-392 (Tax credit expires January 1, 2019, per subsection (g)). Qualifications
for and applicability of tax credit. (a) An Alabama small business tax credit is hereby allowed
for any Alabama small business employer that creates a new job and hires a new full-time employee
to fill that job. The credit shall be a one-time credit equal to one thousand five hundred
dollars ($1,500) for each qualified new employee, and shall only be applicable to a tax year
in which the new employee has completed 12 months of consecutive full-time employment with
the employer. (b) To qualify for the credit, the employer must have a net employee growth
as of the last date of each tax year during which the employer claims a credit pursuant to
this article. The net employee growth must equal or exceed the number of qualified new employees
for which a credit is sought in the current or applicable tax year, plus the total number
of qualified new employees for whom credits were claimed pursuant to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-392.htm - 3K - Match Info - Similar pages
34-27A-9
Section 34-27A-9 Classes of appraisers. (a) There shall be five classes of real estate
appraisers licensed by the board. The classes may be revised or other classes added if necessary
to conform in all respects with the Financial Institutions Reform, Recovery and Enforcement
Act of 1989, Pub.L. No. 101-73 (FIRREA), and any subsequent amendments and regulations issued
pursuant thereto. The board shall make any revisions to the class titles or requirements for
licensure by rules adopted in compliance with the Alabama Administrative Procedure Act, Chapter
22 of Title 41, and Section 34-27A-5. All persons in all classes licensed by the board
are subject to the Competency Provision of the Uniform Standards of Professional Appraisal
Practice. (1) The "trainee real property appraiser" classification applies to a
person whose scope of practice is the appraisal of those properties which the supervising
appraiser is permitted to appraise. (2) The "state registered real property appraisers"...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27A-9.htm - 3K - Match Info - Similar pages
5-18-18
Section 5-18-18 Charges, rates, etc., as to certain loans. Licensees may charge to a
borrower the rates permitted by this chapter only on principal loan balances less than one
thousand dollars ($1,000). No licensee shall induce or permit any person, jointly or severally,
to become obligated directly or contingently, or both, on more than one loan made pursuant
to this chapter at the same time for the purpose of obtaining a higher finance charge than
would otherwise be permitted by Section 5-18-15. If a licensee makes a loan of one
thousand dollars ($1,000) or more, the charges authorized by this chapter shall not apply
to any part of the loan. The rates on the entire amount of a loan of one thousand dollars
($1,000) or more shall be governed by the applicable provisions of Chapter 8 of Title 8 or
Chapter 19 of this title. The supervisor may suspend or revoke the license of any licensee
who violates this section in the manner prescribed by Section 5-18-9, and the
penalties provided for...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-18-18.htm - 1K - Match Info - Similar pages
|