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...
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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;...
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7-3-409
Section 7-3-409 Acceptance of draft; certified check. (a) "Acceptance" means the
drawee's signed agreement to pay a draft as presented. It must be written on the draft and
may consist of the drawee's signature alone. Acceptance may be made at any time and becomes
effective when notification pursuant to instructions is given or the accepted draft is delivered
for the purpose of giving rights on the acceptance to any person. (b) A draft may be accepted
although it has not been signed by the drawer, is otherwise incomplete, is overdue, or has
been dishonored. (c) If a draft is payable at a fixed period after sight and the acceptor
fails to date the acceptance, the holder may complete the acceptance by supplying a date in
good faith. (d) "Certified check" means a check accepted by the bank on which it
is drawn. Acceptance may be made as stated in subsection (a) or by a writing on the check
which indicates that the check is certified. The drawee of a check has no obligation to certify
the...
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7-2-514
Section 7-2-514 When documents deliverable on acceptance; when on payment. Unless otherwise
agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance
of the draft if it is payable more than three days after presentment; otherwise, only on payment.
(Acts 1965, No. 549, p. 811.)...
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7-4-503
Section 7-4-503 Responsibility of presenting bank for documents and goods; report of reasons
for dishonor; referee in case of need. Unless otherwise instructed and except as provided
in Article 5, a bank presenting a documentary draft: (1) Must deliver the documents to the
drawee on acceptance of the draft if it is payable more than three days after presentment;
otherwise, only on payment; and (2) Upon dishonor, either in the case of presentment for acceptance
or presentment for payment, may seek and follow instructions from any referee in case of need
designated in the draft or, if the presenting bank does not choose to utilize the referee's
services, it must use diligence and good faith to ascertain the reason for dishonor, must
notify its transferor of the dishonor and of the results of its effort to ascertain the reasons
therefor, and must request instructions. However the presenting bank is under no obligation
with respect to goods represented by the documents except to follow any...
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31-2A-123a
Section 31-2A-123a (Article 123a.) Making, drawing, or uttering check, draft, or order without
sufficient funds. (a) Any person subject to this code who, for the procurement of any article
or thing of value, with intent to defraud, or for the payment of any past due obligation,
or for any other purpose, with intent to deceive; makes, draws, utters, or delivers any check,
draft, or order for the payment of money upon any bank or other depository, knowing at the
time that the maker or drawer has not or will not have sufficient funds in, or credit with,
the bank or other depository for the payment of that check, draft, or order in full upon its
presentment, shall be punished as a court-martial may direct. (b) The making, drawing, uttering,
or delivering by a maker or drawer of a check, draft, or order, payment of which is refused
by the drawee because of insufficient funds of the maker or drawer in the drawee's possession
or control, is prima facie evidence of his or her intent to defraud...
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7-3-413
Section 7-3-413 Obligation of acceptor. (a) The acceptor of a draft is obliged to pay the draft
(i) according to its terms at the time it was accepted, even though the acceptance states
that the draft is payable "as originally drawn" or equivalent terms, (ii) if the
acceptance varies the terms of the draft, according to the terms of the draft as varied, or
(iii) if the acceptance is of a draft that is an incomplete instrument, according to its terms
when completed, to the extent stated in Sections 7-3-115 and 7-3-407. The obligation is owed
to a person entitled to enforce the draft or to the drawer or an indorser who paid the draft
under Section 7-3-414 or 7-3-415. (b) If the certification of a check or other acceptance
of a draft states the amount certified or accepted, the obligation of the acceptor is that
amount. If (i) the certification or acceptance does not state an amount, (ii) the amount of
the instrument is subsequently raised, and (iii) the instrument is then negotiated to a...

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7-3-603
Section 7-3-603 Tender of payment. (a) If tender of payment of an amount due on an instrument
is made to a person entitled to enforce the instrument, the effect of tender is governed by
principles of law applicable to tender of payment under a simple contract and by subsections
(b), (c) and (d). (b) If tender of payment of an amount due on an instrument is made to a
person entitled to enforce the instrument and the tender is refused, there is discharge, to
the extent of the amount of the tender, of the obligation of an indorser or accommodation
party having a right of recourse with respect to the obligation to which the tender relates.
(c) If tender of payment of an amount due on an instrument is made to a person entitled to
enforce the instrument, the obligation of the obligor to pay interest after the due date on
the amount tendered is discharged. If presentment is required with respect to an instrument
and the obligor is able and ready to pay on the due date at every place of...
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34-15-19
Section 34-15-19 Obtaining accommodations by fraud or misrepresentation; prima facie evidence.
Proof that food, lodging, or other accommodation was obtained by false pretense or by false
or fictitious show or pretense of any baggage or other property by such person obtaining such
food, lodging, or other accommodation, or that such person absconded or left the state without
paying or offering to pay for such food, lodging, or other accommodation, or that such person
gave in payment, or in part payment, for such food, lodging, or other accommodation any check
or draft on which check or draft payment was refused on due presentation or that such person
surreptitiously removed, or attempted to remove, from such hotel, boardinghouse, or eating
house the baggage or other property brought with him or her thereto without having paid, or
offered to pay, for such food, lodging, or other accommodation so furnished him or her shall
be prima facie evidence of the fraud or misrepresentation, or...
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7-3-111
Section 7-3-111 Place of payment. Except as otherwise provided for items in Article 4, an instrument
is payable at the place of payment stated in the instrument. If no place of payment is stated,
an instrument is payable at the address of the drawee or maker stated in the instrument. If
no address is stated, the place of payment is the place of business of the drawee or maker.
If a drawee or maker has more than one place of business, the place of payment is any place
of business of the drawee or maker chosen by the person entitled to enforce the instrument.
If the drawee or maker has no place of business, the place of payment is the residence of
the drawee or maker. (Acts 1995, No. 95-668, p. 1381, §1.)...
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