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27-25-4
Section 27-25-4 Title insurance agent; appointment; issuance of policies. (a) No person shall
act as a title insurance agent in this state unless licensed pursuant to this chapter. Nothing
herein contained shall be construed to prevent a title insurer licensed to do business in
this state, nor an employee thereof, from issuing a policy of title insurance in this state.
(b) Each title insurance agent acting on behalf of a title insurance company shall be appointed
by the title insurance company in accordance with this chapter. The commissioner shall collect
from the title insurer the fees set forth in Section 27-25-4.7 for each appointment. Nothing
herein contained shall be construed to require the issuance of an appointment as described
in this subsection to a title insurer licensed to do business in this state, nor an employee
thereof, for the purpose of issuing a policy of title insurance in this state. (c) Unless
a later date is specifically authorized by the title insurer for a...
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27-35-9
Section 27-35-9 Conversion into stock or mutual life insurance company - Preservation of debts,
liabilities, and duties. Rights of creditors and all liens upon the property of the former
fraternal benefit society shall be preserved unimpaired after the society's conversion, and
the former fraternal benefit society shall be deemed to continue in existence in order to
preserve the same; and all debts, liabilities, and duties of the former fraternal benefit
society shall thenceforth attach to the reorganized and converted corporation and may be enforced
against it to the same extent as if said debts, duties, and liabilities had been incurred
or contracted by it. (Acts 1927, No. 537, p. 624; Acts 1971, No. 407, p. 707, §735.)...
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27-42-19
Section 27-42-19 Association, policyholders, beneficiaries, and insureds to have preferred
creditor status. Upon the issuance of a proper court order placing a domestic insurer in receivership
or placing a foreign insurer in ancillary receivership for rehabilitation or liquidation,
all policyholders, beneficiaries, and insureds of such insolvent insurer, with respect to
claims arising from and within the coverages of and not in excess of the applicable limits
of insurance policies and contracts issued by the insolvent insurer, and liability claims
against insureds which claims are within the coverage of and not in excess of the applicable
limits of insurance policies and insurance contracts issued by the insolvent insurer, and
the Alabama Insurance Guaranty Association and any similar organization in another state shall
be preferred creditors of said insolvent insurer. (Acts 1980, No. 80-806, p. 1639, §19.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-19.htm - 1K - Match Info - Similar pages
27-1-10.1
Section 27-1-10.1 Insurance coverage for drugs to treat life-threatening illnesses. (a) The
Legislature finds and declares the following: (1) The citizens of this state rely upon health
insurance to cover the cost of obtaining health care and it is essential that the citizens'
expectation that their health care costs will be paid by their insurance policies is not disappointed
and that they obtain the coverage necessary and appropriate for their care within the terms
of their insurance policies. (2) Some insurers deny payment for drugs that have been approved
by the Federal Food and Drug Administration, hereafter referred to as FDA, when the drugs
are used for indications other than those stated in the labelling approved by the FDA, off-label
use, while other insurers with similar coverage terms do pay for off-label use. (3) Denial
of payment for off-label use can interrupt or effectively deny access to necessary and appropriate
treatment for a person being treated for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-10.1.htm - 6K - Match Info - Similar pages
27-10-50
Section 27-10-50 Purpose. The purpose of this article is to subject certain insurers to the
jurisdiction of courts of this state in actions by, or on behalf of, insureds or beneficiaries
under insurance contracts. The Legislature declares that it is a subject of concern that many
residents of this state hold policies of insurance issued or delivered in this state by insurers
while not authorized to do business in this state, thus presenting to such residents the often
insuperable obstacle of resorting to distant forums for the purpose of asserting legal rights
under such policies. In furtherance of such state interest, the Legislature provides in this
article a method of substituted service of process upon such insurers and declares that in
so doing it exercises its power to protect its residents and to define, for the purpose of
this article, what constitutes doing business in this state and also exercises powers and
privileges available to the state by virtue of the federal Insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-50.htm - 1K - Match Info - Similar pages
27-14-6
Section 27-14-6 Application for policy - Requirement; reliance by insurer; admissibility into
evidence; alterations. (a) No life or disability insurance contract upon an individual, except
a contract of group life insurance or of group or blanket disability insurance, shall be made
or effectuated unless at the time of the making of the contract the individual insured, being
of competent legal capacity to contract, applies therefor or has consented thereto, except
in the following cases: (1) A spouse may effectuate such insurance upon the other spouse;
(2) Any person having an insurable interest in the life of a minor or any person upon whom
a minor is dependent for support and maintenance may effectuate insurance upon the life of,
or pertaining to, such minor; and (3) Family policies may be issued insuring any two or more
members of a family on an application signed by either parent, a stepparent or by a husband
or wife; (b) An insurer shall be entitled to rely upon all statements,...
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27-15-26
Section 27-15-26 Power of life insurer to hold proceeds of policy. Any life insurer shall have
the power to hold under agreement the proceeds of any policy issued by it upon such terms
and restrictions as to revocation by the policyholder and control by beneficiaries and with
such exemptions from the claims of creditors of beneficiaries other than the policyholder
as set forth in the policy or as agreed to in writing by the insurer and the policyholder.
Upon maturity of a policy, in the event the policyholder has made no such agreement, the insurer
shall have the power to hold the proceeds of the policy under an agreement with the beneficiaries.
The insurer shall not be required to segregate the funds so held but may hold them as part
of its general assets. (Acts 1971, No. 407, p. 707, §371.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-26.htm - 1K - Match Info - Similar pages
27-35-11
Section 27-35-11 Conversion into stock or mutual life insurance company - Separate record of
premiums; exemption from premium taxes. The insurer, after conversion from a fraternal benefit
society, shall maintain separate records of premiums received by it on account of policies
and certificates originally issued while a fraternal benefit society and continuing in force
without material change as to form or basis of premium. All such premiums shall be exempt
from premium taxes to the same extent, if any, as to which exempted if currently received
by a domestic fraternal benefit society. (Acts 1971, No. 407, p. 707, §737.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-11.htm - 935 bytes - Match Info - Similar pages
16-25-33
Section 16-25-33 Term Life Insurance Fund; payment of benefits; funding. (a) A separate fund
to be known as the Term Life Insurance Fund is hereby established within the Teachers' Retirement
System of Alabama. Such fund shall consist of all monies paid by the employers for term life
insurance, and of the investment earnings of such monies and all such funds shall be used
only for the payment of benefits provided by this section. (b) Commencing October 1, 1995,
upon proof satisfactory to the board of the death of a contributing member who is a full-time
employee there shall be paid in the form of a term life insurance benefit the sum of $15,000.
On account of the death of a part-time employee, the benefit provided herein shall be prorated
based on the employee's percent of full-time employment. This benefit shall be paid to the
designated beneficiary on file with the Teachers' Retirement System. For purposes of this
section, a person shall be deemed a contributing member if (1) he or...
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27-43-3
Section 27-43-3 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context requires otherwise: (1) DEPARTMENT. The Department
of Insurance; (2) COMMISSIONER. The Commissioner of Insurance of this state; (3) INSURER.
Any person authorized to do a casualty insurance business or life, accident and sickness insurance
business as an insurer in this state and organizations authorized to transact legal expense
insurance under Section 27-43-8; (4) LEGAL EXPENSE INSURANCE. Such term means, irrespective
of the definition of insurance in other chapters under this title, the assumption of a contractual
obligation to pay for specific legal services or to reimburse for specific legal expenses,
in consideration of a specified payment in advance for an interval of time, regardless of
whether the payment is made by the beneficiaries individually or by a third person for them,
but does not include the provision of or reimbursement for...
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