27-7-28
Section 27-7-28 Nonresident agents or brokers - License generally. (a) Unless denied licensure pursuant to Section 27-7-19, a nonresident person shall receive a nonresident producer license if all of the following are satisfied: (1) The person has submitted or transmitted to the commissioner a copy of the application for licensure that the person submitted to his or her home state or, in lieu of the same, a completed Uniform Application. (2) The person has submitted the proper request for licensure and has paid the fees required under Section 27-4-2. (3) The person's home state awards nonresident producer licenses to residents of this state on the same basis. (4) The person is currently licensed as a resident producer and is in good standing in the state of his or her residence. (b) The commissioner may verify the producer's licensing status through the database maintained by the NAIC, its affiliates or subsidiaries. (c) A nonresident producer who moves from one state to another state...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-7-28.htm - 3K - Match Info - Similar pages
5-5A-23
Section 5-5A-23 Investments and loans with respect to housing. (a) Banks, insurance companies and savings and loan associations are authorized: (1) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance and to obtain such insurance; and (2) To make such loans secured by real property or leasehold as the Federal Housing Administrator insures or makes a commitment to insure and to obtain such insurance. (b) It shall be lawful for banks, insurance companies or savings and loan associations to purchase, invest in and dispose of bonds or notes secured by mortgages issued by the Federal Housing Administrator and in securities issued by national mortgage associations. (c) No law of this state requiring security upon which loans or investments may be made, or prescribing or limiting interest rates upon loans or investments, or prescribing or limiting the period for which loans or investments may be made...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-23.htm - 2K - Match Info - Similar pages
27-5A-3
Section 27-5A-3 Licensure. (a) No person, firm, association, or corporation shall act as a reinsurance intermediary-broker in this state if the reinsurance intermediary-broker maintains an office either directly, or as a member or employee of a firm or association, or an officer, director, or employee of a corporation: (1) In this state, unless the reinsurance intermediary-broker is a licensed producer in this state. (2) In another state, unless the reinsurance intermediary-broker is a licensed producer in this state or another state having a law substantially similar to this law or the reinsurance intermediary-broker is licensed in this state as a nonresident reinsurance intermediary. (b) No person, firm, association, or corporation shall act as a reinsurance intermediary-manager: (1) For a reinsurer domiciled in this state, unless the reinsurance intermediary-manager is a licensed producer in this state. (2) In this state, if the reinsurance intermediary-manager maintains an office...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-5A-3.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
22-21-311
Section 22-21-311 Definitions. (a) The following words and phrases used in this article, and others evidently intended as the equivalent thereof, shall, in the absence of clear implication herein otherwise, be given the following respective interpretations herein: (1) APPLICANT. A natural person who files a written application with the governing body of a county, municipality, or educational institution, or two or more thereof, in accordance with the provisions of Section 22-21-313. (2) AUTHORITY. A public corporation organized, and any public hospital corporation reincorporated, pursuant to the provisions hereof. (3) AUTHORIZING RESOLUTION. The resolution adopted by the governing body of an authorizing subdivision, in accordance with the provisions of Section 22-21-313 or Section 22-21-341, that authorizes the incorporation of an authority or the reincorporation of a public hospital corporation. (4) AUTHORIZING SUBDIVISION. Each county, municipality, and educational institution with...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-311.htm - 7K - Match Info - Similar pages
34-27-32
Section 34-27-32 Requirements for license; application; place of business; branch offices; multiple brokers; fees. (a) A license for a broker or a salesperson shall be registered to a specific real estate office and shall be issued only to, and held only by, a person who meets all of the following requirements: (1) Is trustworthy and competent to transact the business of a broker or salesperson in a manner that safeguards the interest of the public. (2) Is a person whose application for real estate licensure has not been rejected in any state on any grounds other than failure to pass a written examination within the two years prior to the application for real estate licensure with Alabama. If the applicant's rejection for real estate licensure in any state is more than two years from the date of application for licensure with Alabama, then the applicant may not be issued an Alabama real estate license without the approval of the commissioners. (3) Is a person whose real estate license...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-32.htm - 11K - Match Info - Similar pages
27-9A-2
Section 27-9A-2 Definitions. For purposes of this chapter, the following terms shall have the meanings respectively ascribed to them by this section: (1) APPRENTICE INDEPENDENT ADJUSTER. As defined in Section 27-9A-11. (2) BUSINESS ENTITY. A corporation, association, partnership, limited liability company, limited liability partnership, or other legal entity. (3) COMMISSIONER. The Alabama Commissioner of Insurance. (4) HOME STATE. The District of Columbia and any state or territory of the United States in which an independent adjuster maintains the principal place of residence or business of the adjuster and in which the adjuster is licensed to act as a resident independent adjuster. In the case of a resident of a Canadian province, or if the resident state or territory does not license independent adjusters for the line of authority sought, the home state of the independent adjuster shall be any state in which the independent adjuster is licensed and in good standing, as designated by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-9A-2.htm - 2K - Match Info - Similar pages
34-27-36
Section 34-27-36 Disciplinary action - Generally. (a) The commission or its staff may on its own, or on the verified complaint in writing of any person, investigate the actions and records of a licensee. The commission may issue subpoenas and compel the testimony of witnesses and the production of records and documents during an investigation. If probable cause is found, a formal complaint shall be filed and the commission shall hold a hearing on the formal complaint. The commission shall revoke or suspend the license or impose a fine of not less than one hundred dollars ($100) nor more than two thousand five hundred dollars ($2,500), or both, or reprimand the licensee in each instance in which the licensee is found guilty of any of the following acts set out in this section. The commission may revoke or suspend a license until such time as the licensee has completed an approved continuing education course and/or made restitution to accounts containing funds to be held for other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/34-27-36.htm - 12K - Match Info - Similar pages
40-16-1
Section 40-16-1 Definitions. For the purpose of this chapter, the following terms shall have the respective meanings ascribed to them by this section: (1) FINANCIAL INSTITUTION. Any person, firm, corporation, and any legal entity whatsoever doing business in this state as a national banking association, bank, banking association, trust company, industrial or other loan company or building and loan association, and such term shall likewise include any other institution or person employing moneyed capital coming into competition with the business of national banks, and shall apply to such person or institution regardless of what business form and whether or not incorporated, whether of issue or not, and by whatsoever authority existing. The common parent corporation of a controlled group of corporations eligible to elect to file a consolidated excise tax return, in accordance with Section 40-16-3, shall be considered a financial institution if such parent corporation is a registered bank...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-16-1.htm - 4K - Match Info - Similar pages
5-18A-2
Section 5-18A-2 Definitions. As used in this chapter, the following terms shall have the following meanings: (1) CHECK. A debit authorization or a check signed by the maker and made payable to a person licensed under this chapter. (2) CONTINUOUS TRANSACTION. To extend a deferred presentment transaction with the same account without redemption in full with cash or guaranteed funds. (3) DEFERRED PRESENTMENT SERVICES. A transaction pursuant to a written agreement involving the following combination of activities in exchange for a fee: a. Accepting a check or authorization to debit a checking account and, in connection with that acceptance, advancing funds to the checking account holder. b. Holding the check or authorization to debit checking account for a period of time prior to payment or deposit. (4) DEPARTMENT. The State Banking Department. (5) LICENSEE. A person licensed to provide deferred presentment services pursuant to this chapter. (6) PERSON. An individual, group of individuals,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-18A-2.htm - 1K - Match Info - Similar pages
|