27-43-8
Section 27-43-8 Filing of application for certificate of authority; contents of application; issuance of certificate. (a) The incorporators shall file with the commissioner an application for a certificate of authority to do business upon a form to be furnished by the department, which shall include or have attached the following: (1) The names and, for the preceding 10 years, all addresses and all occupations of all incorporators and proposed directors and officers; (2) A certified copy of the corporate articles and bylaws and a list of the names, addresses, and occupations of all directors and principal officers and, if previously incorporated, for the three most recent years, the corporation annual statements and reports; (3) All agreements relating to the corporation to which any incorporator or proposed director or officer is a party; (4) A statement of the amount and sources of the funds available for organization expenses and the proposed arrangements for reimbursement and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-43-8.htm - 3K - Match Info - Similar pages
27-62-3
Section 27-62-3 Definitions. For purposes of this chapter, the following words have the following meanings: (1) AUTHORIZED INDIVIDUAL. An individual known to and screened by the licensee and determined to be necessary and appropriate to have access to the nonpublic information held by the licensee and its information systems. (2) COMMISSIONER. The Commissioner of Insurance. (3) CONSUMER. An individual, including, but not limited to, an applicant, policyholder, insured, beneficiary, claimant, or certificate holder, who is a resident of this state and whose nonpublic information is in the possession, custody, or control of a licensee. (4)a. CYBERSECURITY EVENT. An event resulting in unauthorized access to, disruption, or misuse of an information system or nonpublic information stored on an information system. b. The term cybersecurity event does not include the unauthorized acquisition of encrypted nonpublic information if the encryption, process, or key is not also acquired, released,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-62-3.htm - 5K - Match Info - Similar pages
22-21-361
Section 22-21-361 Definitions. The following terms shall have the meanings respectively ascribed by this section unless the context clearly indicates otherwise: (1) COMMISSIONER. The commissioner of insurance of this state. (2) DENTAL SERVICE PLAN or PLAN. Any plan or other arrangement whereby dental services are provided in whole or in part through a dental service corporation by dentists participating in the plan to provide dental services to those members of the public who become subscribers to the plan under a contract with such corporation. The terms "dental service plan" or "plan" do not include an insurer authorized by the insurance department to transact insurance in this state or to a nonprofit health insurance plan organized pursuant to Section 10-4-100, or to any policy of insurance or contract which includes dental benefits issued by such insurer or nonprofit health insurance plan. (3) DEPARTMENT. The Department of Insurance. (4) LICENSE. The certificate of authority issued...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-361.htm - 1K - Match Info - Similar pages
22-21-370
Section 22-21-370 Posting of securities or surety bond; custody of securities; exemption from taxation; release of securities or bond; modification orders; hearing; effect of failure to comply. (a) To assure the faithful performance of its obligations in the event of insolvency each dental service corporation authorized under Section 22-21-364 shall, through the commissioner, deposit and maintain with the Treasurer of the State Securities of the type eligible for deposit by insurers under Section 27-6-3, which securities shall have at all times a market value as follows: (1) A corporation which has operated no dental service plan in this state prior to January 1, 1983, shall, prior to the issuance of its certificate of authority and before receiving any subscription payments, place in trust with the Treasurer of the State, through the commissioner an initial amount of $50,000.00; (2) A corporation operating a dental service plan business in this state prior to January 1, 1983, and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-370.htm - 4K - Match Info - Similar pages
22-21-389
Section 22-21-389 Nonprofit corporations organized prior to May 4, 1982. No nonprofit corporation, organized under the laws of this state prior to May 4, 1982 to operate a dental service plan in the state or any of the counties thereof, the charter or certificate of incorporation of which has been approved or consented to by the insurance commissioner prior to May 4, 1982, shall be required to incorporate or reincorporate as provided herein. However, every such corporation desiring to operate such a plan shall file with the insurance commissioner its acceptance of this article within six months from May 4, 1982, and every such corporation so accepting this article shall continue, shall have all the powers, authority, and exemptions of this article, and shall be subject to all the provisions hereof except as otherwise provided herein. At the time of filing its acceptance, each such corporation must demonstrate to the satisfaction of the department that it is in compliance with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-389.htm - 1K - Match Info - Similar pages
27-1-2
Section 27-1-2 Definitions. For the purposes of this title, the following terms shall have the meanings respectively ascribed to them by this section. (1) INSURANCE. A contract whereby one undertakes to indemnify another or pay or provide a specified amount or benefit upon determinable contingencies. (2) INSURER. Every person engaged as indemnitor, surety, or contractor in the business of entering into contracts of insurance. (3) PERSON. An individual, insurer, company, association, organization, Lloyd's insurer, society, reciprocal insurer or interinsurance exchange, partnership, syndicate, business trust, corporation, and every legal entity. (4) COMMISSIONER. The Commissioner of Insurance of this state. (5) DEPARTMENT. The Department of Insurance of this state. (6) DOMESTIC INSURER. One formed under the laws of this state. (7) FOREIGN INSURER. One formed under the laws of any jurisdiction other than this state. Except where distinguished by context, "foreign" insurers includes also...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-1-2.htm - 2K - Match Info - Similar pages
27-10-29
Section 27-10-29 Records of surplus line brokers. (a) Each surplus line broker shall keep in his office in this state a full and true record of each surplus line contract procured by him, including a copy of the policy, certificate, cover note or other confirmation of insurance and of the daily report, if any, and showing such of the following items as may be applicable: (1) Amount of the insurance and risks insured against; (2) Gross premium charged; (3) Return premium paid, if any; (4) Rate of premium charged upon the several items of property; (5) Effective date of the contract and the terms thereof; (6) Name and address of the insurer; (7) Name and address of the insured; (8) Brief general description of property insured and where located; (9) Amount of tax and other sums collected from the insured; and (10) Other information as may be required by the commissioner. (b) The record shall at all times be open to examination by the commissioner and shall be kept available and open to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-29.htm - 1K - Match Info - Similar pages
27-31B-11
Section 27-31B-11 Grounds and procedures for suspension or revocation of license. (a) The license of a captive insurance company to do an insurance business in this state may be suspended or revoked by the commissioner for any of the following reasons: (1) Insolvency or impairment of capital or surplus. (2) Failure to meet the requirements of Section 27-31B-6. (3) Refusal or failure to submit an annual report, as required by Section 27-31B-9, or any other report or statement required by law or by lawful order of the commissioner. (4) Failure to comply with its own charter, bylaws, or other organizational document. (5) Failure to submit to examination or any legal obligation relative thereto, as required by Section 27-31B-10. (6) Refusal or failure to pay the cost of examination, as required by Section 27-31B-10. (7) Use of methods that, although not otherwise specifically prohibited by law, nevertheless render its operation detrimental or its condition unsound with respect to the...
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27-12-10
Section 27-12-10 Financial inducements to purchase insurance. (a) No person shall issue or deliver, or permit its agents, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares in any common-law corporation, or securities, or any special or advisory board contract or other contract of any kind promising returns and profits as an inducement to insurance. The commissioner shall refuse to issue a certificate of authority or license to any insurer or other person that is in violation of this section and shall revoke the certificate of authority or license of any such violating insurer or person if such authority or license is already outstanding. (b) No person shall issue or deliver, or permit its agents, officers, or employees to issue or deliver, in this state, any life insurance policy or contract of annuity in which are used such words as "investment plan," "expansion plan," "profit-sharing," "charter plan," "founders'...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-12-10.htm - 2K - 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...
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