reglab/housing_qa huggingface dataset:
AL Code § 27-2B-7 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-7 - Mandatory Control Level Event; Commissioner's Duties.

Section 27-2B-7Mandatory control level event; commissioner's duties. (a) "Mandatory control level event" means any of the following events: (1) The filing of an RBC report which indicates that the insurer's total adjusted capital is less than its mandatory control level RBC. (2) Notification by the commissioner to the insurer of an adjusted RBC report that indicates the event in subdivision (1), provided the insurer does not challenge the adjusted RBC report under Section 27-2B-8. (3) If, pursuant to Section 27-2B-8, the insurer challenges an adjusted RBC report that indicates the event in subdivision (1), notification by the commissioner to the insurer that the commissioner has, after a hearing, rejected the insurer's challenge. (b) In the event of a mandatory control level event: (1) With respect to a life insurer, health organization, or fraternal benefit society, the commissioner shall take actions as necessary to place the insurer under regulatory control pursuant to Chapter 32. In that event, the mandatory control level event shall be deemed sufficient grounds for the commissioner to take action pursuant to Chapter 32, and the commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in Chapter 32. Notwithstanding any of the foregoing, the commissioner may forego action for up to 90 days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the 90-day period. (2) With respect to a property and casualty insurer, the commissioner shall take actions as necessary to place the insurer under regulatory control pursuant to Chapter 32. In the case of an insurer which is writing no business and which is running-off its existing business, the commissioner may allow the insurer to continue its run-off under his or her supervision. In either event, the mandatory control level event shall be deemed sufficient grounds for the commissioner to take action, pursuant to Chapter 32, and the commissioner shall have the rights, powers, and duties with respect to the insurer as are set forth in Chapter 32. Notwithstanding any of the foregoing, the commissioner may forego action for up to 90 days after the mandatory control level event if the commissioner finds there is a reasonable expectation that the mandatory control level event may be eliminated within the 90-day period. (Acts 1996, No. 96-784, p. 1426, §12; Act 2014-377, p. 1407, §2.)
AL Code § 27-2B-8 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-8 - Right to Departmental Hearing; Notification of Request for Hearing.

Section 27-2B-8Right to departmental hearing; notification of request for hearing. (a) An insurer shall have the right to a departmental hearing, on the record, at which the insurer may challenge a determination or action by the commissioner upon any of the following: (1) Notification to an insurer by the commissioner of an adjusted RBC report. (2) Notification to an insurer by the commissioner that: a. The insurer's RBC plan or revised RBC plan is unsatisfactory. b. The notification constitutes a regulatory action level event with respect to the insurer. (3) Notification to any insurer by the commissioner that the insurer has failed to adhere to its RBC plan or revised RBC plan and that the failure has a substantial adverse effect on the ability of the insurer to eliminate the company action level event with respect to the insurer in accordance with its RBC plan or revised RBC plan. (4) Notification to an insurer by the commissioner of a corrective order with respect to the insurer. (b) The insurer shall notify the commissioner of its request for a hearing within five days after the notification by the commissioner under subdivisions (1), (2), (3), or (4) of subsection (a). Upon receipt of the insurer's request for a hearing, the commissioner shall set a date for the hearing, which date shall be no less than 10 nor more than 30 days after the date of the insurer's request. (Acts 1996, No. 96-784, p. 1426, §13.)
AL Code § 27-2B-10 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-10 - Relationship to Other Laws; Adoption of Rules; Exemptions.

Section 27-2B-10Relationship to other laws; adoption of rules; exemptions. (a) The provisions of this chapter are supplemental to any other provisions of the laws of this state, and shall not preclude or limit any other powers or duties of the commissioner under other laws, including, but not limited to, Chapter 32, and Section 27-2-33. (b) The commissioner may adopt reasonable rules necessary for the implementation of this chapter. (c) The commissioner may exempt from the application of this chapter any domestic property and casualty insurer that meets all of the following criteria: (1) Writes direct business only in this state. (2) Writes direct annual premiums of two million dollars ($2,000,000) or less. (3) Assumes no reinsurance in excess of five percent of direct premium written. (d) The commissioner may exempt from the application of this chapter any health organization that meets all of the following criteria: (1) Writes direct business only in this state. (2) Assumes no reinsurance in excess of five percent of direct premium written. (3) Meets either of the following criteria: a. Writes direct annual premiums for comprehensive medical business of one million dollars ($1,000,000) or less. b. Is a limited health services organization that covers less than 1,000 lives. (Acts 1996, No. 96-784, p. 1426, §15; Act 2014-377, p. 1407, §3.)
AL Code § 27-2B-11 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-11 - Foreign Insurers; Submission of Rbc Report or Plan; Application for Liquidation of Property.

Section 27-2B-11Foreign insurers; submission of RBC report or plan; application for liquidation of property. (a) Any foreign insurer shall, upon the written request of the commissioner, submit to the commissioner an RBC report, as of the end of the calendar year just ended, the later of either: (1) The date an RBC report would be required to be filed by a domestic insurer under this chapter. (2) Fifteen days after the request is received by the foreign insurer. Any foreign insurer shall, at the written request of the commissioner, promptly submit to the commissioner a copy of any RBC plan that is filed with the insurance commissioner of any other state. (b) In the event of a company action level event, regulatory action level event, or authorized control level event with respect to any foreign insurer, as determined under the RBC statute applicable in the state of domicile of the insurer or, if no RBC statute is in force in that state, pursuant to this chapter, or if the insurance commissioner of the state of domicile of the foreign insurer fails to require the foreign insurer to file an RBC plan, in the manner specified under that state's RBC statute or, if no RBC statute is in force in that state, under Section 27-2B-4, the commissioner may require the foreign insurer to file an RBC plan with the commissioner. In that event, the failure of the foreign insurer to file an RBC plan with the commissioner shall be grounds to order the insurer to cease and desist from writing new insurance business in this state. (c) In the event of a mandatory control level event with respect to any foreign insurer, if no domiciliary receiver has been appointed with respect to the foreign insurer under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer, the commissioner may make application to the circuit court permitted under Chapter 32, with respect to the liquidation of property of foreign insurers found in this state. The occurrence of the mandatory control level event shall be considered adequate grounds for the application. (Acts 1996, No. 96-784, p. 1426, §16; Acts 1997, No. 97-216, p. 331, §1.)
AL Code § 27-2B-12 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-12 - Liability of Commissioner or Department of Insurance.

Section 27-2B-12Liability of commissioner or Department of Insurance. There shall be no liability on the part of, and no cause of action shall arise against, the commissioner or the Department of Insurance, or its employees or agents for any action taken by them in the performance of their powers and duties pursuant to this chapter. (Acts 1996, No. 96-784, p. 1426, §17.)
AL Code § 27-2B-13 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-13 - Effectiveness of Notice to Insurer.

Section 27-2B-13Effectiveness of notice to insurer. All notices by the commissioner to an insurer that may result in regulatory action pursuant to this chapter, shall be effective upon dispatch if transmitted by registered or certified mail, or in the case of any other transmission shall be effective upon the insurer's receipt of the notice. (Acts 1996, No. 96-784, p. 1426, §18.)
AL Code § 27-2B-14 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-14 - Rbc Reports With Respect to 1996.

Section 27-2B-14RBC reports with respect to 1996. (a) For RBC reports required to be filed by life insurers with respect to 1996, the following requirements shall apply in lieu of the provisions of Sections 27-2B-4, 27-2B-5, 27-2B-6, and 27-2B-7 as follows: (1) In the event of a company action level event, with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder. (2) In the event of a regulatory action level event under subdivisions (1), (2), or (3) of subsection (a) of Section 27-2B-5, the commissioner shall take the actions required under Section 27-2B-4. (3) In the event of a regulatory action level event under subdivisions (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 27-2B-5, or an authorized control level event, the commissioner shall take the actions required under Section 27-2B-5 with respect to the insurer. (4) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under Section 27-2B-6. (b) For RBC reports required to be filed by property and casualty insurers with respect to 1996, the following requirements shall apply in lieu of the provisions of Sections 27-2B-4, 27-2B-5, 27-2B-6, and 27-2B-7: (1) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder. (2) In the event of a regulatory action level event under subdivisions (1), (2), or (3) of subsection (a) of Section 27-2B-5, the commissioner shall take the actions required under Section 27-2B-4. (3) In the event of a regulatory action level event under subdivisions (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 27-2B-5, or an authorized control level event, the commissioner shall take the actions required under Section 27-2B-5 with respect to the insurer. (4) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under Section 27-2B-6. (Acts 1996, No. 96-784, p. 1426, §19.)
AL Code § 27-2B-14.1 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 2B - Risk-Based Capital for Insurers.|Section 27-2B-14.1 - Rbc Reports With Respect to 2015.

Section 27-2B-14.1RBC reports with respect to 2015. For RBC reports required to be filed by health organizations and fraternal benefit societies with respect to 2015, the following requirements shall apply in lieu of the provisions of Sections 27-2B-4, 27-2B-5, 27-2B-6, and 27-2B-7: (1) In the event of a company action level event with respect to a domestic insurer, the commissioner shall take no regulatory action hereunder. (2) In the event of a regulatory action level event under subdivisions (1), (2), or (3) of subsection (a) of Section 27-2B-5, the commissioner shall take the actions required under Section 27-2B-4. (3) In the event of a regulatory action level event under subdivisions (4), (5), (6), (7), (8), or (9) of subsection (a) of Section 27-2B-5, or an authorized control level event, the commissioner shall take the actions required under Section 27-2B-5 with respect to the organization or society. (4) In the event of a mandatory control level event with respect to an insurer, the commissioner shall take the actions required under Section 27-2B-6. (Act 2014-377, p. 1407, §3.)
AL Code § 27-3-1 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 3 - Authorization of Insurers.|Section 27-3-1 - Certificate of Authority - Requirement.

Section 27-3-1Certificate of authority - Requirement. (a) No person shall act as an insurer and no insurer shall transact insurance in this state unless so authorized by a subsisting certificate of authority issued to it by the commissioner, except as to such transactions as are expressly otherwise provided for in this title. (b) No insurer shall from offices or by personnel or facilities located in this state solicit insurance applications or otherwise transact insurance in another state or country unless it holds a subsisting certificate of authority issued to it by the commissioner authorizing it to transact the same kind or kinds of insurance in this state. (Acts 1971, No. 407, p. 707, §48.)
AL Code § 27-3-2 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 3 - Authorization of Insurers.|Section 27-3-2 - Certificate of Authority - Exceptions - Generally.

Section 27-3-2Certificate of authority - Exceptions - Generally. A certificate of authority shall not be required of an insurer with respect to the following: (1) Transactions relative to its policies lawfully written in this state or liquidation of assets and liabilities of the insurer, other than collection of new premiums, all as resulting from its former authorized operations in this state; (2) Transactions thereunder subsequent to issuance of a policy covering only subjects of insurance not resident, located, or expressly to be performed in this state at time of issuance and lawfully solicited, written, or delivered outside this state; (3) Transactions pursuant to surplus lines coverages lawfully written under Chapter 10 of this title; and (4) Reinsurance. (Acts 1971, No. 407, p. 707, §49.)
AL Code § 27-3-3 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 3 - Authorization of Insurers.|Section 27-3-3 - Certificate of Authority - Exceptions - Investment in Real Estate or Securities Secured Thereby.

Section 27-3-3Certificate of authority - Exceptions - Investment in real estate or securities secured thereby. A foreign insurer may transact business in this state without certificate of authority for the purpose, and to the extent only, of investing its funds in real estate located in this state, or in securities secured thereby, by complying with the requirements of Amendment 154 of the Constitution of Alabama. Such an insurer shall not be subject to any other provisions of this title. (Acts 1971, No. 407, p. 707, §50.)
AL Code § 27-3-4 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 3 - Authorization of Insurers.|Section 27-3-4 - Authority to Transact Insurance - Eligibility.

Section 27-3-4Authority to transact insurance - Eligibility. To qualify for and hold authority to transact insurance in this state, an insurer must be otherwise in compliance with this title and with its charter powers and must be an incorporated stock insurer or an incorporated mutual insurer or a reciprocal insurer, all of the same general type as may be formed as a domestic insurer under this title; except that: (1) No foreign insurer shall be authorized to transact insurance in this state which does not maintain reserves as required by Chapter 36 of this title applicable to the kind, or kinds, of insurance transacted by such insurer, wherever transacted in the United States, or which transacts insurance in the United States on the assessment premium plan, stipulated premium plan, cooperative plan, or any similar plan; (2) Any foreign insurer which has transacted insurance as an authorized insurer in its state or country of domicile for less than five years shall not be authorized to transact insurance in this state unless it is otherwise qualified for such authority under this code and is: a. The wholly owned subsidiary of an insurer authorized to transact insurance in this state; b. The continuing corporation resulting from a merger or consolidation of insurers at least one of which insurers has been an authorized insurer in its state or country of domicile for at least five years; or c. Is in compliance with the requirements as to capital and surplus provided therefor under Sections 27-3-7 and 27-3-8; (3) The commissioner shall not grant or continue authority to transact insurance in this state as to any insurer the management of which is found by him, after thorough investigation, to be incompetent or untrustworthy, or so lacking in insurance company managerial experience as to make the proposed operation hazardous to the insurance-buying public or which, after thorough examination or investigation, he has good reason to believe is affiliated directly or indirectly through ownership, control, reinsurance transactions, or other insurance or business relations with any person, or persons, whose business operations are, or have been, marked to the injury of insurers, stockholders, policyholders, creditors, or the public by manipulation of assets, of accounts or of reinsurance or by bad faith; (4) No insurer the voting control of which is held, in whole or substantial part, by any government or governmental agency shall be authorized to transact insurance in this state. Membership in a mutual insurer or subscribership in a reciprocal insurer shall not be deemed to be either an ownership or control of the insurer for the purposes of this subdivision; and (5) Lloyd's plan insurers may be authorized to transact insurance in this state as provided in Section 27-3-16. (Acts 1971, No. 407, p. 707, §51.)
AL Code § 27-3-5 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 3 - Authorization of Insurers.|Section 27-3-5 - Authority to Transact Insurance - Use of Name by Insurer.

Section 27-3-5Authority to transact insurance - Use of name by insurer. (a) No insurer shall be authorized to transact insurance which has or uses a name so similar to that of another insurer already so authorized as likely to mislead the public. (b) No life insurer shall be so authorized which has or uses a name deceptively similar to that of another insurer authorized to transact insurance in this state within the preceding 10 years if life insurance policies originally issued by such other insurer are still outstanding in this state. (c) No insurer shall be so authorized which has or uses a name which tends to deceive or mislead as to the type of organization of the insurer. (d) In case of conflict of names hereafter between two insurers, or a conflict otherwise prohibited under the foregoing subsections of this section, the commissioner may permit or require, as a condition to the issuance of an original certificate of authority to an applicant insurer, that such insurer shall use in Alabama such supplementation or modification of its name or such business name as may reasonably be necessary to avoid such conflict. No such name, supplementation, or modification shall contain the principal identifying factor contained in the name of any other insurer already authorized to transact insurance in this state. (Acts 1971, No. 407, p. 707, §52.)
AL Code § 27-3-6 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 3 - Authorization of Insurers.|Section 27-3-6 - Authority to Transact Insurance - Kind or Combinations of Kinds - Restrictions.

Section 27-3-6Authority to transact insurance - Kind or combinations of kinds - Restrictions. An insurer which otherwise qualifies therefor may be authorized to transact any one kind or combination of kinds of insurance as defined in Chapter 5 of this title, except: (1) A life insurer may grant annuities and shall be authorized to transact in addition only disability insurance, and no insurer shall be authorized to transact life insurance in this state which transacts anywhere any kind of insurance in addition to life and disability insurances and annuities; except, that the commissioner shall, if the insurer otherwise qualifies therefor, continue to so authorize any life insurer which, immediately prior to the effective date of this title, was lawfully authorized to transact in this state a kind or kinds of insurance in addition to life and disability; (2) A reciprocal or Lloyd's plan insurer shall not transact life insurance; and (3) A title insurer shall be a stock insurer and shall transact no other kind of insurance; except, that the commissioner may continue to so authorize any insurer which immediately prior to the effective date of this title was lawfully authorized to transact and was lawfully writing in this state a kind, or kinds, of insurance in addition to title insurance. (Acts 1971, No. 407, p. 707, §53.)