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36-30-2
Section 36-30-2 Deaths deemed compensable; compensation for total disability; amount of compensation.
(a) In the event a peace officer, a firefighter, a volunteer firefighter who is a member of
an organized volunteer fire department registered with the Alabama Forestry Commission, or
a rescue squad member is killed, either accidentally or deliberately, or dies as a result
of injuries received while engaged in the performance of his or her duties, or dies as a direct
and proximate result of a heart attack or stroke, his or her beneficiaries or dependents shall
be entitled to compensation in the amount of one hundred thousand dollars ($100,000) to be
paid from the State Treasury as provided in Section 36-30-3, unless such death was caused
by the willful misconduct of the officer, firefighter, or rescue squad member or was due to
his or her own intoxication or his or her willful failure or refusal to use safety appliances
provided by his or her employer or his or her willful refusal or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-30-2.htm - 4K - Match Info - Similar pages
45-49A-65.05
Section 45-49A-65.05 Disposition of funds. (a) Fifty percent of the tax proceeds distributed
to the City of Mobile pursuant to Section 28-3-281, shall be transferred by the city treasurer
to the board to be deposited as provided in Section 45-49A-65.02. (b) During the 1983 calendar
year, tax proceeds shall be distributed in the following manner: Within 30 days after January
1, 1983, each association shall register youths according to Section 45-49A-65.04. Forty-five
days after January 1, 1983, each association shall submit to the board a list of registrants.
Thereupon the board shall prorate the total amount of tax proceeds for the per capita distribution
according to the number of registrants of an association. In years subsequent to 1983, distribution
of the tax proceeds shall be made in the manner as hereinafter set forth. On or before March
31 of each year, each association shall submit to the board a list of registrants. Thereupon
the board shall prorate the total amount of tax...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49A-65.05.htm - 1K - Match Info - Similar pages
27-44-5
Section 27-44-5 Definitions. As used in this chapter, the following terms shall have the following
meanings, respectively, unless the context clearly indicates otherwise: (1) ACCOUNT. Either
of the three accounts created under Section 27-44-6. (2) ASSOCIATION. The Alabama Life and
Disability Insurance Guaranty Association created under Section 27-44-6. (3) AUTHORIZED ASSESSMENT
or the term AUTHORIZED when used in the context of assessments. A resolution by the board
of directors has been passed whereby an assessment will be called immediately or in the future
from member insurers for a specified amount. An assessment is authorized when the resolution
is passed. (4) BENEFIT PLAN. A specific employee, union, or association of natural persons
benefit plan. (5) CALLED ASSESSMENT or the term CALLED when used in the context of assessments.
A notice that has been issued by the association to member insurers requiring that an authorized
assessment be paid within the time frame set forth within...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-5.htm - 7K - Match Info - Similar pages
19-3B-508
Section 19-3B-508 Qualified trusts under the Internal Revenue Code. (a) As used in this section:
(1) ASSIGNMENT or ALIENATION, and any conjugation thereof, includes any anticipation, assignment
at law or in equity, alienation, attachment, garnishment, levy, execution, or other legal
or equitable process. The term includes: (i) any arrangement providing for the payment to
the employer or other sponsor of such plan of benefits that otherwise would be due the participant
under the plan; (ii) any direct or indirect arrangement, whether revocable or irrevocable,
whereby any person acquires from a participant or beneficiary of such plan a right or interest
enforceable against the plan in, or to, all or any part of a plan benefit which is, or may
become, payable to the participant or beneficiary; (iii) any attachment, execution, seizure,
or the like, or under any form of legal process whatsoever; and (iv) the operation of any
bankruptcy or insolvency laws under 11 U.S.C. ยง 522(b) as from...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-508.htm - 6K - Match Info - Similar pages
27-15-28.2
Section 27-15-28.2 Standard nonforfeiture law for individual deferred annuities - Annuity contracts
issued after June 30, 2006, or by election under this section until June 30, 2006. (a) This
section shall be known as the standard nonforfeiture law for individual deferred annuities.
(b) This section shall not apply to any reinsurance group annuity purchased under a retirement
plan or plan of deferred compensation established or maintained by an employer (including
a partnership or sole proprietorship) or by an employee organization, or by both, other than
a plan providing individual retirement accounts or individual retirement annuities under Section
408 of the Internal Revenue Code, as now or hereafter amended, premium deposit fund, variable
annuity, investment annuity, immediate annuity, any deferred annuity contract after annuity
payments have commenced or reversionary annuity, nor to any contract which shall be delivered
outside this state through an agent or other representative...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-28.2.htm - 13K - Match Info - Similar pages
27-36A-8
Section 27-36A-8 Reserve valuation method - Life insurance and endowment benefits. (a) Except
as otherwise provided in Sections 27-36A-9, 27-36A-12, and 27-36A-14, reserves according to
the commissioners reserve valuation method, for the life insurance and endowment benefits
of policies providing for a uniform amount of insurance and requiring the payment of uniform
premiums, shall be the excess, if any, of the present value, at the date of valuation, of
the future guaranteed benefits provided for by the policies over the then present value of
any future modified net premiums therefor. The modified net premiums for a policy shall be
the uniform percentage of the respective contract premiums for the benefits, excluding extra
premiums on a substandard policy, that the present value, at the date of issue of the policy,
of all modified net premiums shall be equal to the sum of the then present value of the benefits
provided for by the policy and the excess of subdivision (1) over...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-36A-8.htm - 4K - Match Info - Similar pages
11-50A-6
Section 11-50A-6 Board of directors; election committee; meetings; officers; compensation;
recordkeeping. (a) The board of directors of the authority shall be elected by the duly designated
representatives of the municipalities which are authorized and directed to designate a member
of the election committee as hereinafter provided in this section. Until the first meeting
of the board of directors following the meeting in 2015 of the election committee hereinafter
provided for, the board of directors shall consist of nine members; thereafter, the board
shall consist of the number of members equal to the number of municipalities contracting with
the authority for the purchase of electric power and energy pursuant to Section 11-50A-17,
which are authorized and directed to designate a member of the election committee. Members
of the board of directors shall be eligible to succeed themselves. The business, affairs,
and property of the authority shall be managed by its board of directors....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-50A-6.htm - 18K - Match Info - Similar pages
27-15-8.1
Section 27-15-8.1 Life insurance policy provisions - Maximum rates of interest on policy loans.
(a) For purposes of this section the "published monthly average" means: (1) The
Monthly Average of the Composite Yield on Seasoned Corporate Bonds as published by Moody's
Investors Service, Inc., or any successor thereto; or (2) In the event that the Monthly Average
of the Composite Yield on Seasoned Corporate Bonds is no longer published, a substantially
similar average, established by regulation issued by the commissioner. (b)(1) Policies issued
on or after May 15, 1981, shall provide for policy loan interest rates as follows: a. A provision
permitting a maximum interest rate of not more than eight percent per annum; or b. A provision
permitting an adjustable maximum interest rate established from time to time by the life insurer
as permitted by law. (2) The rate of interest charged on a policy loan made under subdivision
(1) of this subsection shall not exceed the higher of the following:...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-8.1.htm - 4K - Match Info - Similar pages
19-3B-816
Section 19-3B-816 Specific powers of trustee. (a) Without limiting the authority conferred
by Section 19-3B-815, a trustee may: (1) collect trust property and accept or reject additions
to the trust property from a settlor or any other person, including, but not being limited
to, the authority to receive, collect, hold, and retain common or preferred stock or other
interests in the trustee or any related party; (2) acquire or sell property, for cash or on
credit, at public or private sale; (3) exchange, partition, or otherwise change the character
of trust property; (4) deposit trust money in an account in a regulated financial-service
institution; (5) borrow money, with or without security, and mortgage or pledge trust property
for a period within or extending beyond the duration of the trust; (6) with respect to an
interest in a proprietorship, partnership, limited liability company, business trust, corporation,
or other form of business or enterprise, continue the business or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/19-3B-816.htm - 10K - Match Info - Similar pages
27-15-78
Section 27-15-78 Calculations of adjusted premiums by the nonforfeiture net level premium method.
(a) This section shall apply to all policies issued on or after the operative date of this
section as defined herein. Except as provided in subsection (g), the adjusted premiums for
any policy shall be calculated on an annual basis and shall be such uniform percentage of
the respective premiums specified in the policy for each policy year, excluding extra premiums
on a substandard policy and also excluding any uniform annual contract charge or policy fee
specified in the policy in a statement of the method to be used in calculating the cash surrender
values and paid-up nonforfeiture benefits, that the present value, at the date of issue of
the policy, of all adjusted premiums shall be equal to the sum of: (1) The then present value
of the future guaranteed benefits provided for by the policy. (2) One percent of either the
amount of insurance, if the insurance be uniform in amount, or the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-15-78.htm - 12K - Match Info - Similar pages
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