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32-7A-6
Section 32-7A-6 Evidence of insurance; insurance card. (a) Every operator of a motor vehicle
subject to the provisions of Section 32-7A-4 shall carry within the vehicle evidence of insurance.
The evidence shall be legible and sufficient to demonstrate that the motor vehicle currently
is covered by an Alabama liability insurance policy or an Alabama commercial automobile liability
insurance policy as required under Section 32-7A-4 and may include, but is not limited to,
the following: (1) An insurance card, or temporary insurance card, provided by the insurer
or an authorized representative under this section. (2) The combination of proof of purchase
of the motor vehicle within the previous 20 calendar days and a current and valid insurance
card issued for the motor vehicle replaced by such purchase. (3) The current declarations
page of an Alabama liability insurance policy. (4) An Alabama liability insurance binder,
or legible copy thereof, Alabama certificate of liability insurance,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/32-7A-6.htm - 6K - Match Info - Similar pages
6-11-51
Section 6-11-51 Definitions. As used in this article the following words and terms shall have
the following meanings: (1) ANNUITY ISSUER. An insurer that has issued a contract to fund
periodic payments under a structured settlement. (2) DEPENDENTS. A payee's spouse and minor
children and all other persons for whom the payee is legally obligated to provide support,
including alimony. (3) DISCOUNTED PRESENT VALUE. The present value of future payments determined
by discounting the payments to the present using the most recently published applicable federal
rate for determining the present value of an annuity, as issued by the United States Internal
Revenue Service. (4) GROSS ADVANCE AMOUNT. The sum payable to the payee or for the payee's
account as consideration for a transfer of structured settlement payment rights before any
reductions for transfer expenses or other deductions to be made from the consideration. (5)
INDEPENDENT PROFESSIONAL ADVICE. Advice of an attorney, certified public...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-11-51.htm - 5K - Match Info - Similar pages
8-37-3
Section 8-37-3 (Effective January 1, 2018) GAP waivers authorized; charges; insurance; creditor
requirements. (a) GAP waivers may be offered, sold, or provided to borrowers in this state
under this chapter. (b) GAP waivers, at the option of the creditor that offers the GAP waiver,
may be sold for a single payment or may be offered with a monthly or periodic payment option.
(c) Notwithstanding any other provision of law and subject to Section 8-37-7, any cost to
the borrower for a GAP waiver entered into in compliance with The Truth in Lending Act, 15
U.S.C. ยง1601 et seq., and its implementing regulations, as they may be amended from time
to time, shall be separately stated and is not to be considered a finance charge or interest.
If the charge for a GAP waiver is financed, the charge shall be separately itemized on the
finance agreement. (d) A retail seller shall insure its GAP waiver obligations under a contractual
liability or other insurance policy issued by an insurer. A creditor,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-37-3.htm - 3K - Match Info - Similar pages
27-12-12
Section 27-12-12 Life, annuity, and disability insurance - Agreements not expressed in contract,
rebates, and other inducements. (a) No person shall knowingly permit or offer to make, or
make, any contract of life insurance, annuity or disability insurance or agreement as to such
contract other than as plainly expressed in the contract issued thereon, or pay or allow,
or give or offer to pay, allow or give, directly or indirectly, as an inducement to such insurance
or annuity any rebate of premiums payable on the contract, or any special favor or advantage
in the dividends or other benefits thereon, or any paid employment or contract for services
of any kind, or any valuable consideration or inducement whatever not specified in the contract,
or, directly or indirectly, give, or sell, or purchase, or offer, or agree to give, sell,
purchase, or allow as inducement to such insurance or annuity or in connection therewith,
and whether or not to be specified in the policy or contract, any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12-12.htm - 1K - Match Info - Similar pages
27-15-29
Section 27-15-29 Prohibited policy plans. (a) No insurer shall hereafter deliver or issue for
delivery in this state any policy or contract providing for the establishment of its policyholders
or members into divisions and classes and for payment of benefits from special funds created
for such purpose to the oldest member of the division and class or to the member of the division
and class whose policy has been in force the longest period of time upon the death of a member
in such division and class, or under any other similar plan; except, that any insurer heretofore
operating on such a plan in this state, whether by conversion from a fraternal benefit society
or otherwise, may continue to do so upon the condition that the insurer shall not hereafter
establish its policyholders or members into any new divisions, classes or groupings of any
kind, other than those heretofore established and containing subsisting policies heretofore
issued, and that the insurer, if a stock insurer, shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-29.htm - 2K - Match Info - Similar pages
27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium method.
(a) This section shall apply to all policies issued on or after the operative date of this
section as defined herein. Except as provided in subsection (g), the adjusted premiums for
any policy shall be calculated on an annual basis and shall be such uniform percentage of
the respective premiums specified in the policy for each policy year, excluding extra premiums
on a substandard policy and also excluding any uniform annual contract charge or policy fee
specified in the policy in a statement of the method to be used in calculating the cash surrender
values and paid-up nonforfeiture benefits, that the present value, at the date of issue of
the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value
of the future guaranteed benefits provided for by the policy. (2) One percent of either the
amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
27-32-30
Section 27-32-30 Claims upon liquidation of insurer - Allowance. (a) No contingent and unliquidated
claim shall share in a distribution of the assets of an insurer which has been adjudicated
to be insolvent by an order made pursuant to this chapter; except, that such claim shall be
considered, if properly presented, and may be allowed to share where: (1) Such claim becomes
absolute against the insurer on or before the last day for filing claims against the assets
of such insurer; or (2) There is a surplus and the liquidation is thereafter conducted upon
the basis that such insurer is solvent. (b) Where an insurer has been so adjudicated to be
insolvent, any person who has a cause of action against an insured of such insurer under a
liability insurance policy issued by such insurer shall have the right to file a claim in
the liquidation proceeding, regardless of the fact that such claim may be contingent, and
such claim may be allowed: (1) If it may be reasonably inferred from the proof...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-30.htm - 2K - Match Info - Similar pages
27-17-16
Section 27-17-16 Valuation of life insurance reserve liabilities for burial insurance policies;
increase in amount of insurance; minimum standards for valuation; notice to commissioner as
to change in valuation standards; increase in retail value, nonforfeiture value, and cash
surrender value; construction with other laws. (a) Except as hereinafter provided, any authorized
insurer who issues or has heretofore issued "burial insurance" in this state shall
value the life insurance reserve liabilities for such policies (hereinafter "burial reserves")
in accordance with the provisions of Section 27-36-7. (b) An insurer shall increase the amount
of insurance on which its burial reserves are based, not to exceed the retail value of such
benefits as stated in the policies, when appropriate to reflect an increase in the costs to
the insurer of providing the policy benefits. When an insurer shall increase the amount of
insurance for this purpose, it shall be permitted to change the assumed...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17-16.htm - 3K - Match Info - Similar pages
27-3-16
Section 27-3-16 Lloyd's insurers. Aggregations of individuals as underwriters, whether domestic,
foreign, or alien, assuming insurance risks upon the plan known as "Lloyd's," whereby
each underwriter is liable for the proportionate part assumed by him of the whole amount so
insured by a policy issued by such underwriters, may be authorized to transact any kind, or
kinds, of insurance in this state other than life or title insurances if the insurer is otherwise
in compliance with this title, subject to the following conditions: (1) If a foreign or alien
insurer, it must have successfully been in business as an authorized insurer in the state
or country of domicile for at least 10 years. (2) If a domestic insurer, it must file with
the commissioner evidence, satisfactory to him, that it has been soundly organized and that
its insurance operations will, at all times, be competently conducted by individuals having
the necessary experience in insurance underwriting and management to do so,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-16.htm - 2K - Match Info - Similar pages
27-45-2
Section 27-45-2 Definitions. As used in this article, the following terms shall have the respective
meanings herein set forth, unless the context shall otherwise require: (1) ALABAMA INSURANCE
CODE. Title 27 of the Code of Alabama 1975. (2) INSURER. Such term shall have the meaning
ascribed in Section 27-1-2. (3) PERSON. Such term shall have the meaning ascribed in Section
27-1-2. (4) COMMISSIONER and DEPARTMENT. Such terms, respectively, shall have the meanings
ascribed in Section 27-1-2. (5) CONTRACTUAL OBLIGATION. Any obligation under covered policies
or employee benefit plans. (6) COVERED POLICY OR PLAN. Any policy, employee benefit plan,
or contract within the scope of this article. (7) HEALTH INSURANCE POLICY. Any individual,
group, blanket, or franchise insurance policy, insurance agreement, or group hospital service
contract providing for pharmaceutical services, including without limitation, prescription
drugs, incurred as a result of accident or sickness, or to prevent same....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-45-2.htm - 3K - Match Info - Similar pages
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