reglab/housing_qa huggingface dataset:
AL Code § 27-30-15 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-15 - Contracts - Limits of Risk.

Section 27-30-15Contracts - Limits of risk. (a) An association shall not, at any one time, have in force any contract, or any number of contracts, covering the same individual, whether such individual is so covered as a member, policyholder, dependent, or in any other capacity, for benefits payable in cash, or having a reasonable cash value, aggregating in excess of amounts as follows: (1) Death benefits payable upon the death of any one individual, for death by any cause, $1,000.00; (2) Accidental death benefits payable only upon the accidental death of any one individual, and including any special or additional benefits for accidental death included in any other death benefit contract, $1,000.00; or (3) Funeral benefits and other merchandise, aid, and service benefits, $1,000.00. (b) This section shall not be deemed to make illegal any contract or coverage lawfully issued prior to January 1, 1972, but the association shall not issue any new contract covering in any way any individual likewise covered under any such prior contract if after issuance of such new contract any such individual would be covered, under all contracts issued by the association and then in force, for amounts which exceed in aggregate amount the limits respectively provided for in subsection (a) of this section. (c) Notwithstanding the limitations set forth in subsection (a) of this section, an association which maintains capital and surplus in amounts not less than that required by Section 27-30-5, shall not, at any one time, have in force any contract, or any number of contracts, covering the same individual, whether such individual is so covered as a member, policyholder, dependent, or in any other capacity for benefits payable in cash, or having a reasonable cash value, aggregating in excess of amounts as follows: (1) Death benefits payable upon the death of any one individual, for death by any cause, $2,500.00; or (2) Accidental death benefits payable only upon the accidental death of any one individual, and including any special or additional benefits for accidental death included in any other death benefit contract, $2,500.00. (Acts 1935, No. 114, p. 165; Acts 1947, No. 528, p. 386; Acts 1953, No. 646, p. 904; Acts 1971, No. 407, p. 707, §571.)
AL Code § 27-30-16 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-16 - Contracts - Annual Valuation - Benefits Payable in Cash.

Section 27-30-16Contracts - Annual valuation - Benefits payable in cash. (a) The commissioner shall each year compute the net value as of December 31 of the preceding year of all benefits payable in cash under all outstanding contracts or policies of each mutual aid association. Such valuation shall be made upon the basis of the "combined experience" or "actuaries table" or "the American experience table" rate of mortality (Illinois standard of valuation), with interest at the rate of four percent per annum. The aggregate net value so ascertained of such contracts or policies of the association shall be deemed its liability on account of such cash benefits, other than accrued claims, for the purpose of any determination of its financial condition. (b) Funds of the association in amount not less than the value of such benefits, as valued under this section, shall be held by the association in cash or in investments as authorized under Section 27-30-20. (Acts 1935, No. 114, p. 165; Acts 1947, No. 528, p. 386; Acts 1953, No. 643, p. 901; Acts 1953, No. 646, p. 904; Acts 1971, No. 407, p. 707, §572.)
AL Code § 27-30-18 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-18 - Deposit - Amounts; Purpose; Kind.

Section 27-30-18Deposit - Amounts; purpose; kind. (a) Each mutual aid association shall, prior to issuance of its certificate of authority, deposit and thereafter maintain on deposit with the Treasurer of the State of Alabama securities of the kind authorized under subsection (d) of this section, in the amount of not less than $5,000.00. If in any calendar year the gross premium receipts of the association from business done within this state exceed $50,000.00, the association shall, not later than the March 30 next following such calendar year, increase the amount of its deposit so made and maintained in accordance with the following schedule: Gross premium receipts during calendar yearAmount of deposit required More than$50,000 but less than$150,000$10,000Equal to150,000 but less than250,00015,000Equal to250,000 but less than350,00020,000Equal to350,000 but less than500,00025,000Equal to500,000 but less than750,00050,000Equal to750,000 but less than1,000,00075,000Equal to1,000,000 or more 100,000 (b) Any such deposit is so made and shall be so held by the State Treasurer in trust for the benefit and protection of the contract or policyholders in this state of the depositing mutual aid association. (c) The term "gross premium receipts" as used in this section shall include all sums received by the association as fees, dues, premiums, contributions, or by whatever other name called from its contract or policyholders as consideration for, or in connection with, such contracts and policies. (d) All such deposits shall consist of assets, approved by the commissioner, such as are eligible for deposit generally under subsection (a) of Section 27-6-3. (Acts 1935, No. 114, p. 165; Acts 1971, No. 407, p. 707, §574.)
AL Code § 27-30-19 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-19 - Deposit - Administration.

Section 27-30-19Deposit - Administration. (a) Deposits of mutual aid associations, heretofore or hereafter made with the State Treasurer under Section 27-30-18 or under laws heretofore in force, shall be administered as provided by, be subject to withdrawal and release, and otherwise be subject to the applicable provisions of Chapter 6 of this title, other than the following sections: (1) Section 27-6-2; and (2) Section 27-6-13. (b) A mutual aid association shall be deemed to be an "insurer" for the purposes and within the terms of Chapter 6 of this title. (Acts 1935, No. 114, p. 165; Acts 1971, No. 407, p. 707, §575.)
AL Code § 27-30-20 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-20 - Funds of Association.

Section 27-30-20Funds of association. The funds of a mutual aid association shall be in cash or invested as provided by the laws of this state with respect to such associations and life insurers. (Code 1940, T. 28, §253; Acts 1971, No. 407, p. 707, §576.)
AL Code § 27-30-21 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-21 - Accounts and Records.

Section 27-30-21Accounts and records. (a) Every mutual aid association shall keep complete and accurate accounts and records of its affairs and transactions, in accordance with the usual and accepted methods and principles of insurance accounting and record keeping as applicable to the kind of business transacted by the association. (b) All such accounts and records of a mutual aid association shall be kept in the principal offices of the association located in this state and be available for inspection thereat by the commissioner on any general business day. (c) The commissioner may suspend or revoke the certificate of authority of any association found by him to be in violation of this section. (Acts 1971, No. 407, p. 707, §577.)
AL Code § 27-30-22 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-22 - Annual Statement; Furnishing of Other Information.

Section 27-30-22Annual statement; furnishing of other information. (a) Each mutual aid association shall, annually on or before March 1, file with the commissioner a full and true statement of its financial condition, transactions, and affairs as of the December 31 preceding. The statement shall be in such general form and content as is prescribed or approved by the commissioner and shall be reasonably adapted to the plans of operation of such associations. The statement shall be verified by an officer of the association having knowledge of the facts. (b) In addition to information called for and furnished in connection with its annual statement, an association shall furnish promptly to the commissioner such information as to any of its transactions or affairs as the commissioner may, from time to time, request in writing. (c) At the time of filing, the association shall pay the fee for filing its annual statement as prescribed by Section 27-4-2. (d) The commissioner may, in his discretion, suspend or revoke the certificate of authority of an association failing to file its annual statement when due. (Acts 1935, No. 114, p. 165; Acts 1971, No. 407, p. 707, §578.)
AL Code § 27-30-23 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-23 - Duty of Officers and Agents.

Section 27-30-23Duty of officers and agents. Any officer or agent of a mutual aid association whose duty it is to maintain its accounts and records, or to make the annual report to the commissioner or to designate the principal place of business or agent for service of process of such association as required under this chapter and who fails so to do or who willfully makes a false account, record, or report shall be guilty of a misdemeanor and, upon conviction, shall be fined not less than $200.00 nor more than $1,000.00 and may be imprisoned in the county jail for not fewer than 10 days nor longer than one year. (Acts 1971, No. 407, p. 707, §579.)
AL Code § 27-30-24 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-24 - Examinations by Commissioner.

Section 27-30-24Examinations by commissioner. The commissioner shall, at least once every three years and oftener whenever he deems it prudent to do so, examine each mutual aid association doing business in this state. Except as to frequency of examination, such examinations and the association shall be subject to the provisions of Chapter 2 of this title as applicable to similar examinations of other insurers. (Acts 1935, No. 114, p. 165; Acts 1971, No. 407, p. 707, §581.)
AL Code § 27-30-25 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-25 - Exemption of Resident Members', etc., Interest From Process.

Section 27-30-25Exemption of resident members', etc., interest from process. The interest of resident members and policyholders of mutual aid associations therein, and of resident beneficiaries provided for thereby, is exempt from all process for the collection of debts or the enforcement of liabilities. (Code 1940, T. 28, §276; Acts 1971, No. 407, p. 707, §583.)
AL Code § 27-30-26 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-26 - Incorporation and Financing of New Associations.

Section 27-30-26Incorporation and financing of new associations. New domestic mutual aid associations, whether stock corporations or mutual corporations, shall hereafter be incorporated and financed under the same provisions and procedures as apply to domestic legal reserve stock or mutual insurers under Chapter 27 of this title, other than provisions made inapplicable under Section 27-30-33 or in conflict with the express provisions of this chapter; except, that, if to be a mutual corporation, its articles of incorporation shall provide either for the contingent liability of its members for the payment of losses and expenses of the association or the general conditions under which such members may otherwise be required to pay assessments for the payment of such losses and expenses, and the liability of members to assessment shall be further detailed in the corporation's bylaws. (Acts 1971, No. 407, p. 707, §584.)
AL Code § 27-30-27 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-27 - Qualification of Corporation for Original Certificate of Authority.

Section 27-30-27Qualification of corporation for original certificate of authority. (a) When applying for an original certificate of authority, a domestic corporation formed to transact a mutual aid business on the mutual plan must be otherwise qualified therefor under this title, must have entered into bona fide agreements for insurance of the kind proposed to be transacted, with not less than 500 persons and must have received therefrom as initial premiums, fees, or contributions at rates theretofore filed with, and approved by, the commissioner as being both adequate and reasonable, not less than $25,000.00 in cash. (b) No such agreements shall be solicited, however, except pursuant to a solicitation permit granted by the commissioner as provided in Sections 27-27-4 through 27-27-7. (Acts 1939, No. 374, p. 502; Acts 1971, No. 407, p. 707, §585.)
AL Code § 27-30-28 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-28 - Increase or Decrease of Capital Stock.

Section 27-30-28Increase or decrease of capital stock. (a) A domestic mutual aid association incorporated on the stock plan, whether heretofore or hereafter formed, may increase or decrease the amount of its authorized capital stock by amendment of its articles of incorporation in the same manner, and subject to the same conditions and procedures, as apply to domestic stock insurers in general under this title. (b) As to a corporation formed prior to January 1, 1972, no increase of authorized capital stock shall be made which does not bring the amount thereof up to at least $50,000.00, and no decrease of authorized capital stock shall be made which reduces authorized capital stock below $50,000.00. (Code 1940, T. 28, §254; Acts 1971, No. 407, p. 707, §586.)
AL Code § 27-30-29 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-29 - Membership; Meetings of Members; Voting Rights.

Section 27-30-29Membership; meetings of members; voting rights. (a) Every holder of a policy, certificate, or benefit agreement issued by the association and then in force shall be deemed to be a member of the association. (b) Annual and special meetings of the members of a domestic mutual aid association formed on the mutual plan shall be held as provided by the laws of this state for stock insurers. (c) Notwithstanding the provisions of subdivision (b) (1) of Section 27-27-22, each member of the association shall be entitled to one vote upon each matter voted upon at the meeting. Each member shall have the right to attend and vote on all matters before the meeting in person or by written proxy executed at least 30 days prior to the meeting. (Acts 1971, No. 407, p. 707, §587.)
AL Code § 27-30-30 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-30 - Directors or Trustees.

Section 27-30-30Directors or trustees. (a) The affairs of every domestic mutual aid association shall be governed by a board of directors or board of trustees consisting of not less than seven members, each of whom must be a member or stockholder of the corporation. (b) Directors shall be elected by the members or stockholders of the association at the annual meeting of stockholders or members. Directors may be elected for terms of not less than one nor more than five years each and until their successors are elected and have qualified, as provided in the association's bylaws. If to be elected for terms of more than one year, the bylaws shall provide for a staggered term system under which the terms of a proportionate part of the members of the board will expire on the date of each annual meeting of members or stockholders. (c) A majority of the directors or trustees must at all times be residents of this state. (Code 1940, T. 28, §§251, 256, 258; Acts 1971, No. 407, p. 707, §588.)
AL Code § 27-30-32 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-32 - Applicability of Chapters 7 and 8a.

Section 27-30-32Applicability of Chapters 7 and 8A. Persons representing or aiding a mutual aid association in the solicitation of business and the mutual aid association with respect thereto shall be subject to Chapters 7 and 8A of this title. (Acts 1935, No. 114, p. 165; Acts 1971, No. 407, p. 707, §582; Act 2001-702, p. 1509, §15.)
AL Code § 27-30-33 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-33 - Applicability of Other Provisions.

Section 27-30-33Applicability of other provisions. In addition to those contained or referred to in this chapter, the following chapters and sections of this title shall apply to mutual aid associations to the extent applicable and not in conflict with the express provisions of this chapter and the reasonable implications of such express provisions: (1) Chapter 1; (2) Chapter 2; (3) The following sections: a. Section 27-3-4; b. Section 27-3-5; c. Section 27-3-22; d. Section 27-3-23; e. Section 27-3-27; f. Section 27-3-29; and g. Section 27-4-2; (4) The following section of Chapter 5: Section 27-5-12; (5) The following sections of Chapters 36 and 37: a. Section 27-37-1; b. Section 27-37-3; c. Section 27-37-2; d. Section 27-37-4; e. Section 27-36-1, except subdivision (4) thereof; f. Section 27-36-6; and g. Sections 27-37-5 through 27-37-9; (6) Chapter 10; (7) Chapter 12; (8) Chapter 14, except as to the following sections: Sections 27-14-8, 27-14-9, 27-14-29, and 27-14-32; (9) Chapter 15; (10) Chapter 16; (11) Chapter 17; (12) Chapter 18; (13) Chapter 19; (14) Chapter 20; (15) Chapter 27, except the following sections: a. Section 27-27-15; b. Section 27-27-20; c. Section 27-27-23; and d. Sections 27-27-34 through 27-27-36. (16) Chapter 32. (Acts 1971, No. 407, p. 707, §589.)
AL Code § 27-30-34 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 30 - Mutual Aid Associations.|Section 27-30-34 - Provision of Domestic Life and Disability Insurance Pursuant to Chapter 3.

Section 27-30-34Provision of domestic life and disability insurance pursuant to Chapter 3. Mutual aid associations organized and authorized under the provisions of this chapter are, in addition to those authorizations and responsibilities stated in Sections 27-17-16, 27-30-1, 27-30-31, 27-30-33, and 27-36-7, entitled to provide insurance policies and contracts as are authorized domestic life and disability insurers pursuant to Chapter 3 of Title 27, subject to the limits on the size and types of risks to be insured as stated in Section 27-30-15 and Section 27-30-6.1. (Acts 1989, No. 89-686, p. 1351.)
AL Code § 27-31-1 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 31 - Reciprocal Insurers.|Section 27-31-1 - Definitions.

Section 27-31-1Definitions. For the purposes of this chapter, the following terms shall have the meanings respectively ascribed to them by this section. (1) RECIPROCAL INSURANCE. Insurance resulting from an interexchange among persons, known as "subscribers," of reciprocal agreements of indemnity, the interexchange being effectuated through an "attorney-in-fact" common to all such persons. (2) RECIPROCAL INSURER. An unincorporated aggregation of subscribers operating individually and collectively through an attorney-in-fact to provide reciprocal insurance among themselves. (Acts 1971, No. 407, p. 707, §§590, 591.)
AL Code § 27-31-2 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 31 - Reciprocal Insurers.|Section 27-31-2 - Applicability of Chapter.

Section 27-31-2Applicability of chapter. (a) All authorized reciprocal insurers shall be governed by those sections of this chapter not expressly made applicable to domestic reciprocals. (b) Existing authorized reciprocal insurers shall, after January 1, 1972, comply with the provisions of this chapter and shall make such amendments to their subscribers' agreement, power of attorney, policies, and other documents and accounts and perform such other acts as may be required for such compliance. (Acts 1971, No. 407, p. 707, §592.)
AL Code § 27-31-3 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 31 - Reciprocal Insurers.|Section 27-31-3 - Powers Generally.

Section 27-31-3Powers generally. (a) A reciprocal insurer may, upon qualifying therefor as provided for by this title, transact any kind or kinds of insurance defined by this title, other than life or title insurances. (b) Such an insurer may purchase reinsurance upon the risk of any subscriber and may grant reinsurance as to any kind of insurance it is authorized to transact directly. (Acts 1971, No. 407, p. 707, §593.)
AL Code § 27-31-4 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 31 - Reciprocal Insurers.|Section 27-31-4 - Business Name; Actions.

Section 27-31-4Business name; actions. A reciprocal insurer shall: (1) Have and use a business name. The name shall include the word "reciprocal," or "interinsurer," or "interinsurance," or "exchange," or "underwriters," or "underwriting"; and (2) Maintain actions and have actions maintained against it in its own name. (Acts 1971, No. 407, p. 707, §594.)
AL Code § 27-31-5 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 31 - Reciprocal Insurers.|Section 27-31-5 - Attorneys.

Section 27-31-5Attorneys. (a) "Attorney," as used in this chapter, refers to the attorney-in-fact of a reciprocal insurer. The attorney may be an individual, firm, or corporation. (b) Contracts of the insurer, including its policies, shall be executed by the attorney, duly authorized and acting for the subscribers. (c) The attorney of a foreign or alien reciprocal insurer, which insurer is duly authorized to transact insurance in this state, shall not, by virtue of discharge of its duties as such attorney with respect to the insurer's transactions in this state, be thereby deemed to be doing business in this state within the meaning of any laws of this state applying to foreign firms or corporations. (Acts 1915, No. 280, p. 315; Acts 1971, No. 407, p. 707, §595.)
AL Code § 27-31-6 (2021)
2021 Code of Alabama|Title 27 - Insurance.|Chapter 31 - Reciprocal Insurers.|Section 27-31-6 - Surplus Funds of Domestic Insurer.

Section 27-31-6Surplus funds of domestic insurer. (a) A domestic reciprocal insurer formed under this chapter, if it has otherwise complied with the applicable provisions of this title, may be authorized to transact insurance if it has, and thereafter maintains, surplus funds as follows: (1) To transact property insurance, surplus funds of not less than $200,000.00; and (2) To transact casualty insurance, surplus funds of not less than $300,000.00. (b) In addition to surplus required to be maintained under subsection (a) of this section, the insurer shall have, when first so authorized, expendable surplus in amount as required of a like foreign reciprocal insurer under Section 27-3-8. (c) A domestic reciprocal insurer may be authorized to transact additional kinds of insurance if it has otherwise complied with the provisions of this title therefor and possesses and so maintains surplus funds in amount equal to the minimum capital stock required of a stock insurer for authority to transact a like combination of kinds of insurance, but subject to subsection (b) of Section 27-3-8 as to additional kinds of insurance and surplus required therefor during the first five years. (Acts 1915, No. 280, p. 315; Acts 1971, No. 407, p. 707, §596.)