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27-34-37
Section 27-34-37 Annual statements - Valuation of certificates; reserves. (a) As a part of
the annual statement required under Section 27-34-36, each society shall, on or before March
1, file with the commissioner a valuation of its certificates in force on December 31 last
preceding; provided, however, that the commissioner may, in his discretion for cause shown,
extend the time for filing such valuation for not more than two calendar months. Such report
of valuation shall show, as reserve liabilities, the difference between the present midyear
value of the promised benefits provided in the certificates of such society in force and the
present midyear value of the future net premiums as the same are in practice actually collected,
not including therein any value for the right to make extra assessments and not including
any amount by which the present midyear value of future net premiums exceeds the present midyear
value of promised benefits on individual certificates. At the option of...
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18-1A-233
Section 18-1A-233 Restitution of property and damages. If the action is dismissed for any reason,
and the defendant has vacated the property under an order of possession or in reasonable contemplation
of its taking by the plaintiff, the circuit court, upon demand of the defendant, shall order
the plaintiff to (1) deliver possession of the property to the defendant or other person entitled
thereto, and (2) pay damages to the defendant as justice requires, including damages for any
injury to or impairment of the value of the property not within the reasonable control of
the defendant. (Acts 1985, No. 85-548, p. 802, §1304.)...
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25-5-85
Section 25-5-85 Procedure for and effect of payment of compensation to court appointed trustee.
At any time after the amount of an award has been agreed upon by the parties or found and
ordered by the court, a sum equal to the present value of all future installments of compensation
calculated on a six percent basis may, where death or the nature of the injury renders the
amount of future payments certain, by leave of court, be paid by the employer to a bank or
trust company of this state or a national bank doing business in this state to be approved
and designated by the court, and the sum, together with all interest thereon, shall thereafter
be held in trust for the employee or dependent of the employee, who shall have no further
recourse against the employer. The payment of the sum by the employer, evidenced by the receipts
in duplicate of the trustees, one of which shall be filed with the probate judge of the county
in which the injury or death occurred and the other filed with the...
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35-4-190
Section 35-4-190 Duty of court to ascertain present value and make payment. Excepting in cases
where the dower interest of the widow of a decedent is sold during process of administration
of such decedent's estate, in all cases where lands are sold for division among joint owners
or tenants in common and where lands are taken under the power of eminent domain, and one
or more persons own a dower or life interest in the whole or in an undivided interest in such
lands, the court having jurisdiction of the action in which such lands are sold or taken,
as aforesaid, after the proceeds are paid into court, shall, upon the sworn application of
any person owning such dower interest or life interest, or any remainder or reversionary interest
therein, ascertain the present value of such dower or life estate and pay to the owner of
such dower or life interest in cash the value of such interest, the remainder to be paid to
the reversioners or remaindermen. (Acts 1945, No. 446, p. 684, §1.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-4-190.htm - 1K - Match Info - Similar pages
6-6-262
Section 6-6-262 Execution, garnishment, or other process on bond. If the unsuccessful party,
who has given bond and taken the property into possession fails, for 30 days after the judgment,
to deliver the property and to pay the damages assessed for the detention thereof and the
costs, the sheriff must, upon the bond, make return of the fact of such failure; and, thereupon,
the bond has the force and effect of a judgment on which execution, garnishment, or other
process may issue against any, or all, the obligors therein for the alternative value of the
property as assessed by the jury and the damages assessed for its detention and the costs.
If the property is delivered and the damages assessed for its detention and the costs are
not paid, the sheriff must, upon the bond, make return of the fact, and execution, garnishment,
or other process must issue against any or all of the obligors for such damages and costs,
or for either, as either may be unpaid. (Code 1852, §2195; Code 1867,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-6-262.htm - 1K - Match Info - Similar pages
27-15-75
Section 27-15-75 Calculation of adjusted premiums. (a)(1) This section shall not apply to policies
issued on or after the operative date of Section 27-15-78, as defined therein. Except as provided
in subsection (c), 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, that the present value
at the date of issue of the policy, of all such adjusted premiums shall be equal to the sum
of: a. The then present value of the future guaranteed benefits provided for by the policy.
b. Two percent of the amount of the insurance if the insurance be uniform in amount, or of
the equivalent uniform amount, as defined in this article, if the amount of insurance varies
with the duration of the policy. c. Forty percent of the adjusted premium for the first policy
year. d. Twenty-five percent of either the adjusted premium...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-75.htm - 4K - Match Info - Similar pages
27-36A-8
Section 27-36A-8 Reserve valuation method - Life insurance and endowment benefits. (a) Except
as otherwise provided in Sections 27-36A-9, 27-36A-12, and 27-36A-14, reserves according to
the commissioners reserve valuation method, for the life insurance and endowment benefits
of policies providing for a uniform amount of insurance and requiring the payment of uniform
premiums, shall be the excess, if any, of the present value, at the date of valuation, of
the future guaranteed benefits provided for by the policies over the then present value of
any future modified net premiums therefor. The modified net premiums for a policy shall be
the uniform percentage of the respective contract premiums for the benefits, excluding extra
premiums on a substandard policy, that the present value, at the date of issue of the policy,
of all modified net premiums shall be equal to the sum of the then present value of the benefits
provided for by the policy and the excess of subdivision (1) over...
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8-20A-3
Section 8-20A-3 Cause of action against manufacturer. (a) A consumer sustaining damages as
a proximate consequence of the failure by a manufacturer to perform its obligations imposed
under this chapter may bring a civil action against the manufacturer to enforce the provisions
of this chapter. Prior to the commencement of any such proceeding a consumer must give notice
of a nonconforming condition by certified United States mail to the manufacturer and demand
correction or repair of the nonconforming condition. If at the time such notice of a nonconforming
condition is given to the manufacturer, a presumption has arisen that reasonable attempts
to correct a nonconforming condition have been allowed, the manufacturer shall be given a
final opportunity to cure the nonconforming condition. The manufacturer shall within seven
calendar days of receiving the written notice of nonconforming condition notify the consumer
of a reasonably accessible repair facility. After delivery of the new...
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27-15-81
Section 27-15-81 Consistency of progression of cash surrender values with increasing policy
duration. (a) This section, in addition to all other applicable sections of this article,
shall apply to all policies issued on or after January 1, 1985. Any cash surrender value available
under the policy in the event of default in a premium payment due on any policy anniversary
shall be in an amount which does not differ by more than two-tenths of one percent of either
the amount of insurance, if the insurance be uniform in amount, or the average amount of insurance
at the beginning of each of the first 10 policy years, from the sum of: (1) The greater of
zero and the basic cash value hereinafter specified. (2) The present value of any existing
paid-up additions, less the amount of any indebtedness to the insurer on account of or secured
by the policy. (b) The basic cash value shall be equal to the present value, on such anniversary,
of the future guaranteed benefits which would have been...
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36-7-4
Section 36-7-4 Advancement of traveling expenses of municipal officers or employees - Itemized
statement of expenses to be presented and approved upon return of officer or employee; effect
of failure to present statement and secure approval thereof. When any sum is advanced to an
officer or employee of any county or municipality to be used to defray expenses incurred while
traveling beyond the borders of the municipality or county, the itemized statement required
as provided for in Section 36-7-1 shall be presented immediately upon the return of such officer
or employee to the county or municipality, and failure to present and have approved such statement
shall render such officer or employee personally liable to the county or municipality for
the sum advanced, which sum shall, if such officer or employee is drawing pay for his services
from the municipality or county, be deducted from any sum then or in the future owed by the
municipality or county to such officer or employee. (Acts...
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