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27-5B-14
Section 27-5B-14 Asset or reduction from liability for reinsurance ceded by a domestic
insurer to an assuming insurer not meeting the requirements of Sections 27-5B-3 through 27-5B-13.
An asset or a reduction from liability for the reinsurance ceded by a domestic insurer to
an assuming insurer not meeting the requirements of Section 27-5B-3, 27-5B-4, 27-5B-5,
27-5B-6, 27-5B-7, 27-5B-8, 27-5B-9, 27-5B-10, 27-5B-11, 27-5B-12, or 27-5B-13 shall be allowed
in an amount not exceeding the liabilities carried by the ceding insurer. The reduction shall
be in the amount of funds held by or on behalf of the ceding insurer, including funds held
in trust for the ceding insurer, under a reinsurance contract with the assuming insurer as
security for the payment of obligations thereunder, if the security is held in the United
States subject to withdrawal solely by, and under the exclusive control of, the ceding insurer;
or, in the case of a trust, held in a qualified U.S. financial institution, as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5B-14.htm - 2K - Match Info - Similar pages
35-12-92
Section 35-12-92 Penalties and enforcement. (a) A holder who fails to report, pay, or
deliver property within the time prescribed by this article, or fails to perform other duties
imposed by this article, shall pay to the Treasurer for credit to the General Fund a civil
penalty of one hundred dollars ($100) for each business day the report, payment, or delivery
is withheld, or the duty is not performed, up to a maximum of five thousand dollars ($5,000).
(b) A holder who willfully fails to report, pay, or deliver property within the time prescribed
by this article, or willfully fails to perform other duties imposed by this article, shall
pay to the Treasurer for credit to the General Fund a civil penalty of five hundred dollars
($500) for each business day the report, payment, or delivery is withheld, or the duty is
not performed, up to a maximum of twenty-five thousand dollars ($25,000). (c) A holder who
makes an intentional fraudulent report shall pay to the Treasurer for credit to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-92.htm - 1K - Match Info - Similar pages
45-48-142.26
Section 45-48-142.26 Fire protection service fee Collection and disposition. (a) The
fire protection service fee shall be collected, administered, and enforced as closely as possible
at the same time, in the same manner, and under the same requirements and laws as are the
ad valorem taxes of the state. In the case of mobile homes, the fee shall be collected, administered,
and enforced as closely as possible at the same time, in the same manner, and under the same
requirements and laws as the annual registration fee for manufactured homes provided in Section
40-12-255. The proceeds of the collected fees, minus an administration fee not to exceed five
percent, shall be paid to the respective volunteer fire districts. (b) Funds paid to the volunteer
fire districts shall only be expended for fire protection and emergency services purposes
to include the purchase of vehicles and equipment, daily operations, training, supplies, and
insurances. Each fire district receiving funds shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-48-142.26.htm - 1K - Match Info - Similar pages
8-33-7
Section 8-33-7 Form and contents of warranty. (a) Every vehicle protection product warranty
in its entirety shall be written, printed, or typed in eight point type size or larger and
shall not be sold or offered for sale in this state unless the warranty: (1) States that the
obligations of the warrantor to the warranty holder are guaranteed under a warranty reimbursement
insurance policy if the warrantor elects to meet its financial responsibility obligations
under subsection (b) of Section 8-33-5 or states that the obligations of the warrantor
under the warranty are backed by the full faith and credit of the warrantor if the warrantor
elects to meet its financial responsibility obligations under subsection (c) of Section
8-33-5. (2) States that in the event a warranty holder must make a claim against a party other
than the warranty reimbursement insurance policy issuer, the warranty holder is entitled to
make a direct claim against the insurer upon the failure of the warrantor to pay...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-7.htm - 3K - Match Info - Similar pages
8-6-3
Section 8-6-3 Registration and bonds of dealers, agents, investment advisers, etc. (a)
It is unlawful for any person to transact business in this state as a dealer or agent for
securities unless he or she is registered under this article. It is unlawful for any dealer
or issuer to employ an agent unless the agent is registered. (b) It is unlawful for any person
to transact business in this state as an investment adviser or as an investment adviser representative
unless: (1) He or she is so registered under this article; (2) His or her only clients in
this state are investment companies as defined in the Investment Company Act of 1940, other
investment advisers, broker-dealers, banks, trust companies, savings and loan associations,
insurance companies, employee benefit plans with assets of not less than $1,000,000, and governmental
agencies or instrumentalities, whether acting for themselves or as trustees with investment
control, or other institutional investors as are designated by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-3.htm - 12K - Match Info - Similar pages
10A-2-6.27
Section 10A-2-6.27 Restriction on transfer of shares and other securities. REPEALED
IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) The articles of incorporation, bylaws, an agreement among shareholders,
or an agreement between shareholders and the corporation may impose restrictions on the transfer
or registration of transfer of shares of corporation. A restriction does not affect shares
issued before the restriction was adopted unless the holders of the shares are parties to
the restriction agreement or voted in favor of the restriction. (b) A restriction on the transfer
or registration of transfer of shares is valid and enforceable against the holder or a transferee
of the holder including an executor, administrator, trustee, guardian, conservator or other
fiduciary entrusted with like responsibility for the person or estate of the holder, provided
the restriction is authorized by this section and, as provided by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.27.htm - 3K - Match Info - Similar pages
27-29-2
Section 27-29-2 Subsidiaries and affiliates of domestic insurers. (a) Authorization.
A domestic insurer, either by itself or in cooperation with one or more persons, may organize
or acquire one or more subsidiaries. The subsidiaries may conduct any kind of business or
businesses and their authority to do so shall not be limited by reason of the fact that they
are subsidiaries or affiliates of a domestic insurer. (b) Additional investment authority.
In addition to investments in common stock, preferred stock, debt obligations, and other securities
permitted under all other sections of this title, a domestic insurer may also: (1) Invest,
in common stock, preferred stock, debt obligations, and other securities of one or more subsidiaries,
amounts which do not exceed the lesser of 10 percent of such insurer's assets or 50 percent
of the insurer's surplus as regards policyholders, provided that after such investments, the
insurer's surplus as regards policyholders will be reasonable in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-2.htm - 4K - Match Info - Similar pages
35-12-89
Section 35-12-89 Requests for reports and examination of records. (a) The Treasurer
may require a person who has not filed a report, or a person who the Treasurer believes has
filed an inaccurate, incomplete, or false report, to file a verified report in a form specified
by the Treasurer. The report must state whether the person is holding property reportable
under this article, describe property not previously reported or as to which the Treasurer
has made inquiry, and specifically identify and state the amounts of property that may be
in issue. (b) The Treasurer, at reasonable times and upon reasonable notice, may examine the
records of any person to determine whether the person has complied with this article. The
Treasurer may conduct the examination even if the person believes it is not in possession
of any property that shall be reported, paid, or delivered under this article. The Treasurer
may contract with any other person to conduct the examination on behalf of the Treasurer....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-12-89.htm - 3K - Match Info - Similar pages
37-4-150
Section 37-4-150 Electric transmission facilities. (a) This section shall be
known and may be cited as the Energy Security Act of 2015. (b) The Legislature hereby finds
and declares that due to the economic, financial, and service impacts associated with the
development of electric transmission facilities used for the furnishing of electric service
to consumers in this state, it is in the public interest to provide incumbent electric suppliers
the right to construct, own, operate, and maintain new transmission facilities that connect
to their own electric systems. The Legislature further finds and declares that providing incumbent
electric suppliers this right furthers their ability to satisfy their respective obligations
to provide service to Alabama consumers. This section implements these findings. (c)
As used in this section, the following words have the following meanings: (1) COMMISSION.
The Alabama Public Service Commission. (2) ELECTRIC TRANSMISSION FACILITY. Any transmission...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-4-150.htm - 5K - Match Info - Similar pages
10A-2A-13.02
Section 10A-2A-13.02 Right to appraisal. (a) A stockholder is entitled to appraisal
rights, and to obtain payment of the fair value of that stockholder's stock, in the event
of any of the following corporate actions: (1) consummation of a merger to which the corporation
is a party (i) if the corporation is a subsidiary and the merger is governed by Section
10A-2A-11.05 or (ii) if stockholder approval is required for the merger by Section
10A-2A-11.04, or would be required but for the provisions of Section 10A-2A-11.04(j),
except that appraisal rights shall not be available to any stockholder of the corporation
with respect to stock of any class or series that remain outstanding after consummation of
the merger; (2) consummation of a stock exchange to which the corporation is a party the stock
of which will be acquired, except that appraisal rights shall not be available to any stockholder
of the corporation with respect to any class or series of stock of the corporation that is
not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-13.02.htm - 7K - Match Info - Similar pages
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