5-13B-110
Section 5-13B-110 Pledge of assets. (a) Each foreign bank which is licensed to establish and maintain an Alabama state branch or Alabama state agency shall keep on deposit, in accordance with such regulations or orders as the superintendent shall promulgate, with such unaffiliated Alabama banks as such foreign bank may designate and the superintendent may approve, interest-bearing stocks and bonds, notes, debentures, or other obligations of the United States or any agency or instrumentality thereof, or guaranteed by the United States, or of this state, or of a city, county, town, village, school district, or instrumentality of this state or guaranteed by this state, or dollar deposits, or obligations of the International Bank for Reconstruction and Development, or obligations issued by the InterAmerican Development Bank, or obligations of the Asian Development Bank, or obligations issued by the African Development Bank, or such other assets as the superintendent shall by regulation or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-110.htm - 2K - Match Info - Similar pages
27-3-11
Section 27-3-11 Deposit requirements - Generally. (a) The commissioner shall not issue or permit to exist a certificate of authority as to any insurer, other than an alien insurer, unless it has deposited and maintains deposited in trust with the Treasurer of this state cash or securities eligible under Section 27-6-3 and having a value at all times of not less than $100,000.00 or the minimum paid-in capital stock, if a stock insurer, or surplus, if a mutual or reciprocal insurer, required to be maintained by the insurer under this title for authority to transact the kinds of insurance to be transacted, whichever is the smaller amount. (b) The deposit shall be for the general benefit and protection of the insurer's policyholders or its policyholders and creditors. (c) In lieu of such deposit, or part thereof, in this state of a foreign insurer, the commissioner shall, subject to the retaliatory law, Section 27-3-29, accept the current certificate in proper form of the public official...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-11.htm - 3K - Match Info - Similar pages
40-21-100
Section 40-21-100 Definitions. (a) For the purpose of this article, the following terms shall have the respective meanings ascribed by this section: (1) BUSINESS. All activities relating to the furnishing of utility services. (2) DEPARTMENT. The Department of Revenue of the State of Alabama. (3) DOMESTIC WATER. All water except water that is sold to persons for use or consumption in industrial processes and not primarily for human consumption. (4) GROSS RECEIPTS. The value proceeding or accruing from the furnishing of utility services, all receipts actual and accrued, without any deduction on account of the cost of the utility services sold, the cost of the materials used, labor or service cost, interest paid, or any other expense whatever, and without any deductions on account of losses. (5) GROSS SALES. The value proceeding or accruing from the furnishing of utility services, and including the proceeds from the sale of any utility services handled on consignment by the taxpayer,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-21-100.htm - 12K - Match Info - Similar pages
41-10-52
Section 41-10-52 Purpose of article; construction of article. It is the intention of the Legislature by the passage of this article to authorize the incorporation of the Director of Finance, the Secretary of the Alabama Department of Commerce, the State Treasurer and the Executive Secretary to the Governor for the purpose of acquiring land for and erecting, constructing, maintaining and operating thereon a products market, exhibition halls, buildings and other related structures and facilities in Jefferson County, Alabama, where products and goods may be displayed to encourage the buying and selling of such products and goods, to encourage the expansion of existing industries in Alabama, to encourage the location of new industries in Alabama and to foster and encourage the growth of the general economy of Alabama, through a corporation to be composed of said officials whose incorporation is hereby authorized and to vest such corporation with all powers, authorities, rights, privileges...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-52.htm - 1K - Match Info - Similar pages
16-65-4
Section 16-65-4 Creation of authority; members, organization, etc. There is hereby created a public body corporate and politic to be known as Alabama Higher Education Equipment Loan Authority. The authority shall not be a state institution nor a department or agency of the state, but shall be an instrumentality of purely public charity performing an essential governmental function, being a distinct corporate entity. The Governor shall be the president of the authority, the State Treasurer shall be the vice president thereof, and the Director of Finance shall be the secretary thereof. The State Treasurer shall be treasurer thereof, shall act as custodian of its funds, and shall pay the principal of and interest on the bonds of the authority out of the funds hereinafter provided for. The members of the authority shall constitute all the members of the board of directors of the authority, and any two members of the board of directors shall constitute a quorum for the transaction of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/16-65-4.htm - 2K - Match Info - Similar pages
27-3-12
Section 27-3-12 Deposit requirements - Special deposit - Surety insurers. (a) In addition to the deposit required under Sections 27-3-11 or 27-3-14, a surety insurer shall deposit and maintain deposited with the Treasurer of this state in trust for the benefit of holders, resident in this state, of the obligations of the insurer cash or securities eligible under Section 27-6-3 having a value at all times of at least $50,000.00; except, that a domestic surety insurer may take credit for the amount of such special deposit against the deposit otherwise required of it under Section 27-3-11, and except that a foreign insurer showing a deposit pursuant to subsection (c) of Section 27-3-11 in the amount of $200,000.00 shall not be required to comply with this section. (b) Such deposits shall be subject to the applicable provisions of Chapter 6 of this title. (Acts 1909, No. 43, p. 29; Acts 1971, No. 407, p. 707, §57.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-12.htm - 1K - Match Info - Similar pages
27-33-2
Section 27-33-2 Deposit of assets in trust. (a) An alien insurer may use Alabama as a state of entry to transact insurance in the United States by making and maintaining in this state a deposit of assets in trust with a solvent bank or trust company approved by the commissioner. (b) The deposit, together with other trust deposits of the insurer held in the United States for the same purpose, shall be in amount not less than the deposits required of an alien insurer under Section 27-3-14 and shall consist of cash and/or securities eligible for the investment of the funds of like domestic insurers. (c) Such a deposit may be referred to as "trusteed assets." (Acts 1971, No. 407, p. 707, §657.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-33-2.htm - 1K - Match Info - Similar pages
27-52-1
Section 27-52-1 Creation; cessation and reestablishment of operations. (a) There is hereby created the Alabama Health Insurance Plan which shall, as a high risk pool in the State of Alabama, provide health insurance coverage to eligible individuals as an alternative to requiring insurers to offer guaranteed-issue policies, as provided in the Health Insurance Portability and Accountability Act of 1996 (Pub.L. 104-191, also known as HIPAA). (b) In the event any federal mandate includes market reform provisions which satisfy the guaranteed-issue requirements of HIPAA, the Alabama Health Insurance Plan may cease operations upon giving sufficient time for current participants to transition out of the plan. After operation of the Alabama Health Insurance Plan ceases and all current and future liabilities of the plan have been satisfied, any unspent and unencumbered funds of the plan shall be transferred to the State General Fund. (c) In the event a federal mandate requires the State of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-52-1.htm - 1K - Match Info - Similar pages
40-18-140
Section 40-18-140 Contribution designations. (a)(1) Each Alabama resident individual income taxpayer desiring to contribute to any of the programs listed in subsection (b) may designate an amount of his or her refund, rounded off in whole dollars, in an appropriate box on the state income tax return form, to be credited to the program. (2) All future check-offs, duly enacted by the Legislature subsequent to April 17, 2006, shall be accorded an appropriate box on the state income tax return forms, subject to the terms and conditions prescribed herein, without the requirement that they be added by amendment to this section. (b) Contributions received for the following authorized charitable and nonpolitical income tax check-off recipients, less costs of administration to the Department of Revenue not to exceed five percent, shall be distributed and appropriated as provided herein: (1) Contributions to the Alabama Aging Program shall be deposited with the State Treasurer into the Alabama...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-18-140.htm - 6K - Match Info - Similar pages
5-13B-88
Section 5-13B-88 Authority to act as agent. (a) An Alabama state branch or Alabama state agency of a foreign bank licensed under this article may receive deposits, renew time deposits, close loans, service loans, and receive payments on loans and other obligations as an agent for any depository institution affiliate of such foreign bank, including branch, agency, and other offices of the same foreign bank located in other states, generally in accordance with the same terms, conditions, procedures, and requirements that are applicable under the laws and regulations of this state to such agency activities that may be conducted by Alabama state banks. (b) Notwithstanding any other provision of the laws or regulations of this state, an Alabama state branch or Alabama state agency of a foreign bank acting in this state as an agent in accordance with the provisions of this section shall not be considered to be a branch of such other depository institution affiliate; provided, however, that...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-13B-88.htm - 2K - Match Info - Similar pages
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