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27-42-6
Section 27-42-6 Association created; member insurers; accounts. There is created a nonprofit
unincorporated legal entity to be known as the Alabama Insurance Guaranty Association. All
insurers defined as member insurers in subdivision (6) of Section 27-42-5 shall be and remain
members of the association as a condition of their authority to transact insurance in this
state. The association shall perform its functions under a plan of operation established and
approved under Section 27-42-9 and shall exercise its powers through a board of directors
established under Section 27-42-7. For purposes of administration and assessment, the association
shall be divided into three separate accounts: (a) the workmen's compensation insurance account;
(b) the automobile insurance account; and (c) the account for all other insurance to which
this chapter applies. (Acts 1980, No. 80-806, p. 1639, ยง6.)...
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27-44-3
Section 27-44-3 Scope of chapter. (a) This chapter shall provide coverage for the policies
and contracts specified in subsection (b) as follows: (1) To persons who, regardless of where
they reside (except for non-resident certificate holders under group policies or contracts),
are the beneficiaries, assignees, or payees of the persons covered under subdivision (2).
(2) To persons who are owners of or certificate holders under the policies or contracts, other
than structured settlement annuities, and in each case who are either of the following: a.
Residents b. Not residents, but only under all of the following conditions: 1. The insurer
that issued the policies or contracts is domiciled in this state. 2. The states in which the
persons reside have associations similar to the association created by this chapter. 3. The
persons are not eligible for coverage by an association in any other state due to the fact
the insurer was not licensed in the state at the time specified in the state's...
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27-44-9
Section 27-44-9 Assessments. (a) For the purpose of providing the funds necessary to carry
out the powers and duties of the association, the board of directors shall assess the member
insurers, separately for each account, at such time and for such amounts as the board finds
necessary. Assessments shall be due not less than 30 days after prior written notice to the
member insurers and shall accrue interest at six percent per annum on and after the due date.
(b) There shall be two classes of assessments, as follows: (1) Class A assessments shall be
authorized and called for the purpose of meeting administrative and legal costs and other
expenses. Class A assessment may be authorized and called whether or not related to a particular
impaired or insolvent insurer. (2) Class B assessments shall be authorized and called to the
extent necessary to carry out the powers and duties of the association under Section 27-44-8
with regard to an impaired or insolvent insurer. (c)(1) The amount of a...
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27-19-103
Section 27-19-103 Definitions. Unless the context requires otherwise, the definitions in this
section apply throughout this article. (1) APPLICANT. In the case of: a. An individual long-term
care insurance policy, the person who seeks to contract for benefits. b. A group long-term
care insurance policy, the proposed certificate holder. (2) CERTIFICATE. Any certificate issued
under a group long-term care insurance policy, which policy has been delivered or issued for
delivery in this state. (3) COMMISSIONER. The Alabama Commissioner of Insurance. (4) GROUP
LONG-TERM CARE INSURANCE. A long-term care insurance policy which is delivered or issued for
delivery in this state and issued to any of the following: a. One or more employers or labor
organizations, or to a trust or to the trustees of a fund established by one or more employers
or labor organizations, or a combination thereof, for employees or former employees or a combination
thereof, or for members or former members or a...
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8-6-2
Section 8-6-2 Definitions. When used in this article, unless the context otherwise requires,
the following terms shall have the meanings respectively ascribed to them by this section:
(1) COMMISSION or SECURITIES COMMISSION. The securities commission. (2) AGENT. Any individual
other than a dealer who represents a dealer or issuer in effecting or attempting to effect
sales of securities, but such term does not include an individual who represents an issuer
in: a. Effecting a transaction in a security exempted by subdivisions (1), (2), (3), (4),
(9) or (10) of Section 8-6-10; b. Effecting transactions exempted by Section 8-6-11; or c.
Effecting transactions with existing employees, partners, or directors of the issuer if no
commission or other remuneration is paid or given directly or indirectly for soliciting any
person in this state. A partner, officer, or director of a dealer or issuer is an agent if
he otherwise comes within this definition. (3) DEALER. Any person engaged in the...
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41-27-42
Section 41-27-42 Assessment of penalties for noncompliance. (a) If the agency determines that
the motor vehicle the driver was driving at the time of the motor vehicle incident was not
in compliance, the agency shall issue the assessment of a civil penalty in the amount of two
hundred dollars ($200) for the first offense, three hundred dollars ($300) for a second offense,
and four hundred dollars ($400) for a third or subsequent offense against the driver for failure
to comply with the Mandatory Motor Vehicle Liability Insurance Law unless the motor vehicle
is owned by any person, firm, association, or corporation licensed and engaged in the business
of renting or leasing motor vehicles. The notice shall be sent by first class U.S. mail to
the address in the records of the agency or otherwise available to the agency on a traffic
citation or accident report. The notice shall state that the driver's license of the person
will be suspended for 90 days if the person, within 45 days of the...
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35-19-2
Section 35-19-2 Definitions. The following terms shall have the following meanings: (1) ACTIVITY
AND USE LIMITATIONS. Restrictions or obligations created under this chapter with respect to
real property. (2) AGENCY or DEPARTMENT. The Alabama Department of Environmental Management.
(3) COMMON INTEREST COMMUNITY. A condominium, cooperative, or other real property with respect
to which a person, by virtue of the person's ownership of a parcel of real property, is obligated
to pay property taxes or insurance premiums, or for maintenance, or improvement of other real
property described in a recorded covenant that creates the common interest community. (4)
DIRECTOR. The Director of the Alabama Department of Environmental Management or his or her
designated representative. (5) ENVIRONMENTAL COVENANT. A servitude arising under an environmental
response project that imposes activity and use limitations. (6) ENVIRONMENTAL RESPONSE PROJECT.
A plan or work performed for environmental remediation...
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5-2A-61
Section 5-2A-61 Created; commissioner and deputy commissioner generally; examiners; disclosure
of information by officers; seal of commissioner. (a) There is hereby created a Savings and
Loan Bureau which shall be a bureau of the State Banking Department. (b) The bureau shall
be set up, established and administered by the Savings and Loan Commissioner under the executive
direction and control of the State Banking Department, and the commissioner shall be the same
person as the Superintendent of Banks. The Deputy Superintendent of Banks shall be the deputy
commissioner. The salaries of the commissioner and the deputy commissioner shall be payable
out of the treasury, as the salaries of other state officials are paid, and the commissioner
and his deputy shall be allowed and paid for necessary travelling expenses while travelling
upon official business as provided in Article 2 of Chapter 7 of Title 36. (c) The deputy commissioner
shall serve as secretary at the meetings of the Savings and...
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27-12A-1
Section 27-12A-1 Definitions. As used in this chapter, the following terms shall have the following
meanings: (1) COMMISSIONER. The Alabama Commissioner of Insurance or his or her designee.
(2) DEPARTMENT. The Alabama Department of Insurance. (3) INSURANCE. As defined in Section
27-1-2, and specifically including any contract, arrangement, or agreement, in which one undertakes
to do any one of the following: a. Pay or indemnify another as to loss from certain contingencies
called risks. b. Pay or grant a specified amount or determinable benefit to another in connection
with ascertainable risk contingencies. c. Pay an annuity to another. d. Act as surety. For
the purposes of this chapter, insurance also includes any health benefit plan as defined in
Section 27-53-1. (4) INSURANCE PRODUCER or PRODUCER. As defined in Section 27-7-1. (5) INSURER.
A person entering into agreements, contracts of insurance, arrangements, or reinsurance, or
a health benefit plan, or a group health plan as...
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27-31B-2
Section 27-31B-2 Definitions. As used in this chapter, the following terms shall have the following
meanings, unless the context clearly indicates otherwise: (1) AFFILIATED COMPANY. Any company
in the same corporate system as a parent, an industrial insured, or a member organization
by virtue of common ownership, control, operation, or management. (2) ALIEN CAPTIVE INSURANCE
COMPANY. Any insurance company formed to write insurance business for its parents and affiliates
and licensed pursuant to the laws of an alien jurisdiction which imposes statutory or regulatory
standards in a form acceptable to the commissioner on companies transacting the business of
insurance in that jurisdiction. (3) ASSOCIATION. Any legal association of individuals, corporations,
limited liability companies, partnerships, associations, or other entities whereby either
of the following exists: a. The member organizations of which, or the association itself,
whether or not in conjunction with some or all of the...
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