Alabama Code > Title 15 > Chapter 2 > Article 1 – General Provisions
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Terms Used In Alabama Code > Title 15 > Chapter 2 > Article 1 - General Provisions
- ADMITTED ASSET: Any asset of an insurer permitted by the Commissioner of Insurance to be taken into account in any determination of the financial condition of the insurer. See Alabama Code 27-41-2
- ALABAMA INSURANCE CODE: Title 27 of this code. See Alabama Code 27-41-2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- circuit: means judicial circuit. See Alabama Code 1-1-1
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- ELIGIBLE INVESTMENT: Any investment permitted by Sections 27-41-7 to 27-41-35, inclusive, provided the investment meets all the other requirements of this chapter. See Alabama Code 27-41-2
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- insurer: The term shall have the meaning ascribed in Section 27-1-2 and shall include health maintenance organizations. See Alabama Code 27-41-2
- investment: Any asset owned by an insurer. See Alabama Code 27-41-2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- person: includes a corporation as well as a natural person. See Alabama Code 1-1-1
- person: The term shall have the meaning ascribed in Section 27-1-2. See Alabama Code 27-41-2
- property: includes both real and personal property. See Alabama Code 1-1-1
- United States: includes the territories thereof and the District of Columbia. See Alabama Code 1-1-1
- Venue: The geographical location in which a case is tried.