|
27-42-5
Section 27-42-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Any one
of the three accounts created by Section 27-42-6. (2) AFFILIATE. A person who directly, or
indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with another person on December 31 of the year immediately preceding the date the
insurer becomes an insolvent insurer. (3) ASSOCIATION. The Alabama Insurance Guaranty Association
created under Section 27-42-6. (4) CLAIMANT. Any insured making a first party claim or any
person instituting a liability claim. The term does not include a person who is an affiliate
of an insolvent insurer. (5) COMMISSIONER. The Commissioner of Insurance of the State of Alabama.
(6) CONTROL. The possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of a person, whether...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-5.htm - 5K - Match Info - Similar pages
27-14-8
Section 27-14-8 Forms - Filing and approval or disapproval. (a) No basic insurance policy or
annuity contract form or application form where written application is required and is to
be made a part of the policy, or contract, or printed rider, or endorsement form or form of
renewal certificate shall be delivered or issued for delivery in this state unless the form
has been filed with, and approved by, the commissioner. This subsection shall not apply to
surety bonds or to specially rated inland marine risks, nor to policies, riders, endorsements,
or forms of unique character designed for, and used with, relation to insurance upon a particular
subject or which relate to the manner of distribution of benefits or to the reservation of
rights and benefits under life or disability insurance policies and are used at the request
or with the consent of the individual policyholder, contract holder, or certificate holder.
As to group insurance policies effectuated and delivered outside this...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-14-8.htm - 3K - Match Info - Similar pages
27-31D-2
Section 27-31D-2 Premium discount or insurance rate reduction - Fortified existing homes. (a)
Commencing on May 14, 2009, insurance companies shall provide a premium discount or insurance
rate reduction in an amount and manner as established in subsection (g) and pursuant to Section
27-31D-3. In addition, insurance companies may also offer additional adjustments in deductible,
other credit rate differentials, or a combination thereof, collectively referred to as adjustments.
These adjustments shall be available under the terms specified in this section to any owner
who retrofits his or her insurable property located in the State of Alabama to resist loss
due to hurricane or other catastrophic windstorm events. (b) To obtain the adjustment provided
in this section, an insurable property shall be retrofitted to any of the following: (1) The
Fortified Home: Hurricane Standards (FHH), or the Fortified Home: Highwind and Hail Standards
(FHWH) requirements as may from time to time be adopted...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31D-2.htm - 4K - Match Info - Similar pages
27-25-3
Section 27-25-3 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings: (1) ABSTRACT OF TITLE. A compilation or summary of all instruments
of public record of whatever kind or nature which in any manner affect title to a specified
parcel of real property. (2) BUSINESS ENTITY. A domestic entity properly formed and existing
under Title 10A. (3) COMMISSIONER. The Commissioner of the Alabama Department of Insurance.
(4) INDIVIDUAL. A natural person. (5) NAIC. The National Association of Insurance Commissioners,
its subsidiaries and affiliates, and any successor thereof. (6) OPINION OF TITLE. A written
expression of the status of title, including, but not limited to, the validity or invalidity
thereof, based upon an examination by an attorney at law, who is licensed to practice law
in this state, of instruments of public record or an abstract thereof affecting title to a
specified parcel of real property to ascertain the history and present...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-3.htm - 5K - 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
27-7-7
Section 27-7-7 Licenses - Application - Generally; fees. Repealed by Act 2001-702, p. 1509,
ยง 6, effective January 1, 2002. (a) The commissioner shall not issue any license except upon
application therefor as in this chapter provided. Each applicant for a license shall file
annually with the commissioner his written application therefor signed by him and showing:
(1) His name, age and place of residence; (2) The kinds of insurance to be transacted under
the license and the insurer or insurers he proposes so to represent; (3) The person, firm
or corporation by whom he expects to be employed or associated with as such licensee and his
status as an officer or representative thereof; (4) Whether he proposes to write or solicit
insurance of his own risks and interest, or those of his relatives, any firm or corporation
in which he is financially interested or connected, directly or indirectly, or of his employer;
(5) A short business history of the applicant and the name and nature of any...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-7.htm - 4K - Match Info - Similar pages
27-10-24
Section 27-10-24 Licensing of surplus line brokers. (a) Any person, while licensed as a resident
insurance producer in this state for the property lines of authority and who is deemed by
the commissioner to have had sufficient experience in the insurance business to be competent
for the purpose may be licensed as a surplus line broker for the types and kinds of insurance
that he or she as a resident producer is licensed to handle as follows: (1) Application to
the commissioner for the license shall be made on forms as designated and furnished by the
commissioner. (2) License fee in the amount stated in Section 27-4-2 shall be paid to the
commissioner. The license shall expire on December 31 next after its issue. (3) Prior to the
issuance of the license, the applicant shall file with the commissioner, and thereafter for
as long as any license remains in effect he or she shall keep in force and unimpaired, a bond
in favor of the State of Alabama in the penal sum of at least fifty...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-10-24.htm - 5K - Match Info - Similar pages
27-15-72
Section 27-15-72 Nonforfeiture benefits. (a) In the case of policies issued on or after January
1, 1972, no policy of life insurance, except as set forth in Section 27-15-82, shall be delivered
or issued for delivery in this state unless it shall contain in substance the following provisions,
or corresponding provisions which, in the opinion of the commissioner, are at least as favorable
to the defaulting or surrendering policyholder as are the minimum requirements specified in
this section and are essentially in compliance with Section 27-15-81: (1) That, in the event
of default in any premium payment, the insurer will grant, upon proper request not later than
60 days after the due date of the premium in default, a paid-up nonforfeiture benefit on a
plan stipulated in the policy, effective as of such due date, of such amount as may be specified
in this article. In lieu of such stipulated paid-up nonforfeiture benefit, the insurer may
substitute, upon proper request not later than 60...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-72.htm - 4K - Match Info - Similar pages
16-17A-8
Section 16-17A-8 Powers of authority. (a) An authority shall have and may exercise any power
granted nonprofit corporations under Title 10A, together with all powers incidental thereto
or necessary or desirable to the discharge thereof, including, without limitation, the following
specific powers: (1) To adopt, maintain, and amend bylaws and a corporate seal. (2) To sue
and, subject to the limitations herein, be sued; provided, however, that no authority entitled
to sovereign immunity shall be denied such immunity. (3) To acquire, construct, equip, and
operate those health care facilities it considers necessary or desirable. (4) To enter into
contracts and agreements, borrow money, incur indebtedness, and issue bonds, notes, debt securities,
or any other evidence of indebtedness. (5) To pledge the general credit of the authority or
any revenues or income of the authority to repayment of any of its indebtedness. (6) To mortgage
or pledge its health care facilities or its other assets or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-17A-8.htm - 5K - Match Info - Similar pages
27-29-1
Section 27-29-1 Definitions. For purposes of this chapter, unless otherwise stated, the following
terms shall have the meanings respectively ascribed to them by this section: (1) AFFILIATE.
The term shall include an affiliate of, or person affiliated with, a specific person, and
shall mean a person that directly, or indirectly through one or more intermediaries, controls,
or is controlled by, or is under common control with, the person specified. (2) COMMISSIONER.
The Commissioner of Insurance, his or her deputies, or the Insurance Department as appropriate.
(3) CONTROL. The term shall include controlling, controlled by, or under common control with
and shall mean the possession, direct or indirect, of the power to direct or cause the direction
of the management and policies of a person, whether through the ownership of voting securities,
by contract other than a commercial contract for goods or nonmanagement services, or otherwise,
unless the power is the result of an official...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-1.htm - 5K - Match Info - Similar pages
|