|
27-27-29
Section 27-27-29 Principal place of business and home office of domestic insurers; maintenance
of assets in state; removal of records or assets; exceptions. (a) Every domestic insurer shall
have, and maintain, its principal place of business and home office in this state and shall
keep in this state complete records of its assets, transactions, and affairs in accordance
with such methods and systems as are customary or suitable as to the kind, or kinds, of insurance
transacted. (b) Every domestic insurer shall have, and maintain, its assets in this state,
or in a financial institution conducting business in this state except as to: (1) Real property
and personal property appurtenant to the real property lawfully owned by the insurer and located
outside this state. (2) The property of the insurer as may be customary, necessary, and convenient
to enable and facilitate the operation of its branch offices and regional home offices located
outside this state as referred to in subsection...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-29.htm - 5K - Match Info - Similar pages
25-5-316
Section 25-5-316 Workers' Compensation Administrative Trust Fund; creation; management; trustee
and custodian; assessments; penalties. (a) There is established in the State Treasury a fund
entitled the Workers' Compensation Administrative Trust Fund, into which shall be deposited
certain assessments provided under Chapter 5 (commencing with Section 25-5-1) of Title 25
collected by the Department of Labor. The fund shall constitute a separate fund to be disbursed
by the state Comptroller on order of the Secretary of the Department of Labor. All expenses
incurred by the department under the Workers' Compensation Law, including the salaries of
all employees, travel cost, and any other cost of administration and enforcement as may become
necessary, either within or without the state, shall be paid from the separate fund in the
State Treasury upon warrants of the state Comptroller drawn upon the State Treasury from time
to time when vouchers therefor are approved by the secretary. The State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-5-316.htm - 7K - Match Info - Similar pages
27-17A-32
Section 27-17A-32 Rights of seller; powers and duties of trustee. (a) If amounts paid by the
purchaser under a preneed contract for funeral merchandise have previously been deposited
in trust, the seller may withdraw the principal amount and trust appreciation attributable
to the delivered item at such time as the funeral merchandise is delivered or installed or,
if comprised of materials designed to withstand prolonged, protected storage without deterioration,
the merchandise is placed in storage with a responsible third party bonded and insured for
the wholesale value thereof and evidenced by a receipt specifically identifying the item,
the specific preneed contract, the location of the item, and the identity and address of the
bonding and insuring parties. For purposes of this subsection only, caskets and alternative
containers may not be held in storage by the seller or a third party storage facility prior
to the death of the funeral beneficiary. (b) The trustee shall make regular...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-17A-32.htm - 5K - Match Info - Similar pages
37-1-43
Section 37-1-43 Jurisdiction over utilities engaged in interstate commerce not regulated under
acts of Congress. All the authority, powers and jurisdiction which have been given by law
to the Alabama Public Service Commission over utilities engaged in intrastate commerce in
this state are hereby given to said commission over utilities whose principal place of business
is located outside the State of Alabama, but who are engaged in this state in interstate commerce
not regulated under the acts of the Congress of the United States to the extent that the exercise
by said commission of such authority, powers and jurisdiction over such utilities engaged
in interstate commerce is permissible. (Acts 1923, No. 516, p. 687; Code 1923, §9649; Code
1940, T. 48, §28.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-1-43.htm - 1K - Match Info - Similar pages
27-4A-2
Section 27-4A-2 Definitions. For the purposes of this chapter only, the following terms, unless
the context clearly indicates otherwise, shall have the meanings: (1) ANNUITY CONSIDERATIONS.
All sums received as consideration for annuity contracts. (2) COMMISSIONER. The Commissioner
of Insurance of the State of Alabama. (3) DEPARTMENT. The Department of Insurance of the State
of Alabama. (4) DOMESTIC INSURER. Any insurer organized under the laws of the State of Alabama
which maintains its principal office and chief place of business in the State of Alabama.
(5) FOREIGN INSURER. Any insurer organized under the laws of any country or of any state of
the United States other than the State of Alabama and any insurer organized under the laws
of Alabama which maintains its principal office or chief place of business outside the State
of Alabama. (6) INSURER. Every insurer as defined in Section 27-1-2, and every other insurance
company or association charging a premium for contracts entered...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4A-2.htm - 3K - Match Info - Similar pages
11-86A-15
Section 11-86A-15 Security for bonds. (a) In the discretion of the board of directors of an
authority, any bonds may be secured by an indenture between an authority and a trustee, which
may be a trust company or bank having trust powers, whether the trust company or bank is located
within or outside of the state. In any indenture or resolution providing for the issuance
of bonds, an authority may pledge, for payment of the principal of and the interest on such
bonds, any of its revenues to which its rights exist or may thereafter come into existence,
and may assign, as security for payment, any of its leases, franchises, permits, and contracts.
In any indenture, an authority may mortgage any properties, including any that may be thereafter
acquired by it, and may provide that in the event of a default in payment of the bonds secured
thereby or in the event of default with respect to any agreement contained therein, the mortgage
may be foreclosed either by sale at public outcry or by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-86A-15.htm - 3K - Match Info - Similar pages
19-3-64
Section 19-3-64 Contents and recordation of declaration of trust. The written declaration of
trust may provide for the election of successor trustees in the event of the death, resignation
and removal of a trustee and may provide for the amendment of said declaration of trust. The
declaration of trust may also contain such other provisions regarding the operation and administration
of the business trust as may be necessary or desirable. The declaration of trust shall be
recorded in the office of the judge of probate in the county in which its principal place
of business is located, and a recording charge of $15.00 shall be paid therefor, which shall
be in lieu of all other recording charges. (Acts 1961, Ex. Sess., No. 251, p. 2263, §5.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3-64.htm - 1K - Match Info - Similar pages
19-3D-12
Section 19-3D-12 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION,
EFFECTIVE JANUARY 1, 2019. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. DECANTING POWER UNDER
LIMITED DISTRIBUTIVE DISCRETION. (a) In this section, "limited distributive discretion"
means a discretionary power of distribution that is limited to an ascertainable standard or
a reasonably definite standard. (b) An authorized fiduciary that has limited distributive
discretion over the principal of the first trust for the benefit of one or more current beneficiaries
may exercise the decanting power over the principal of the first trust. If an authorized fiduciary
has limited distributive discretion over part but not all of the principal of a first trust,
the fiduciary may exercise the decanting power over that part of the principal over which
the authorized fiduciary has limited distributive discretion. (c) Under this section and subject
to Section 19-3D-14, a second trust may be created or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3D-12.htm - 2K - Match Info - Similar pages
16-46-6
Section 16-46-6 Permit for solicitation of students. (a) No person representing any private
postsecondary institution or other individual or organization offering courses in this state,
or from a place of business in this state, whether located within or outside this state, shall
sell any course or solicit students therefor in this state for a consideration or remuneration
unless a permit is first secured from the Department of Postsecondary Education, with the
exception of agents representing schools exempted under Section 16-46-3. If the agent represents
more than one school not exempted under Section 16-46-3, a separate permit shall be obtained
for each school represented. The application for a permit shall be made on forms to be furnished
by the Department of Postsecondary Education and shall be renewed every two years. (b) Upon
satisfactory review of an agent, the Department of Postsecondary Education shall issue a pocket
card displaying the signature of the person, facial photo,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-46-6.htm - 5K - Match Info - Similar pages
22-21-240
Section 22-21-240 Establishment, administration, etc., of trusts authorized; specification
of terms, conditions and provisions of trusts. There is hereby authorized the establishment,
maintenance, administration and operation of any trust established by agreement of any hospitals
or other health care units licensed as such by the State of Alabama (hereinafter referred
to as "hospitals") or by agreement of any dental practitioners licensed as such
by the State of Alabama (hereinafter referred to as "dentists") as grantors, with
such hospitals and dentists as beneficiaries, for the purpose of insuring against general
public liability claims based upon acts or omissions of such hospitals or dentists, including
without limitation, claims based upon malpractice. Such hospitals or dentists may, by trust
agreement among themselves and a trustee or trustees of their selection, specify the terms,
conditions and provisions of such a trust. (Acts 1977, No. 166, p. 226, §2; Acts 1978, 2nd
Ex....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-240.htm - 1K - Match Info - Similar pages
|