§ 27-31A-1 Short title and purpose
§ 27-31A-2 Definitions
§ 27-31A-3 Risk retention groups chartered in this state
§ 27-31A-3.1 Risk retention groups to comply with governance standards
§ 27-31A-4 Risk retention groups not chartered in this state
§ 27-31A-5 Compulsory associations
§ 27-31A-6 Countersignatures not required
§ 27-31A-7 Purchasing groups – Exemption from certain laws
§ 27-31A-8 Notice and registration requirements of purchasing groups
§ 27-31A-9 Restrictions on insurance purchased by purchasing groups
§ 27-31A-10 Purchasing group taxation
§ 27-31A-11 Administrative and procedural authority regarding risk retention groups and purchasing groups
§ 27-31A-12 Duty of producers to obtain license
§ 27-31A-13 Binding effect of orders issued in U.S. district court
§ 27-31A-14 County self-insurance funds
§ 27-31A-15 Rules and regulations

Terms Used In Alabama Code > Title 27 > Chapter 31A

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attorney-in-fact: A person who, acting as an agent, is given written authorization by another person to transact business for him (her) out of court.
  • commissioner: The Insurance Commissioner of this state or the commissioner, director, or superintendent of insurance in any other state. See Alabama Code 27-31A-2
  • COMPLETED OPERATIONS LIABILITY: Liability arising out of the installation, maintenance, or repair of any product at a site which is not owned or controlled by either of the following:

    a. See Alabama Code 27-31A-2

  • Conviction: A judgement of guilt against a criminal defendant.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • domicile: For purposes of determining the state in which a purchasing group is domiciled:

    a. See Alabama Code 27-31A-2

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • 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.
  • HAZARDOUS FINANCIAL CONDITION: Based on its present or reasonably anticipated financial condition, a risk retention group, although not yet financially impaired or insolvent, is unlikely to be able to do either of the following:

    a. See Alabama Code 27-31A-2

  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • insurance: Primary insurance, excess insurance, reinsurance, surplus lines insurance, and any other arrangement for shifting and distributing risk which is determined to be insurance under the laws of this state. See Alabama Code 27-31A-2
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • PERSONAL RISK LIABILITY: Liability for damages because of injury to any person, damage to property, or other loss or damage resulting from any personal, familial, or household responsibilities or activities, rather than from responsibilities or activities referred to in subdivisions (6)a. See Alabama Code 27-31A-2
  • preceding: means next before. See Alabama Code 1-1-1
  • PRODUCT LIABILITY: Liability for damages because of any personal injury, death, emotional harm, consequential economic damage, or property damage, including damages resulting from the loss of use of property, arising out of the manufacture, design, importation, distribution, packaging, labeling, lease, or sale of a product, but does not include the liability of any person for those damages if the product involved was in the possession of the person when the incident giving rise to the claim occurred. See Alabama Code 27-31A-2
  • PURCHASING GROUP: Any group which meets all of the following:

    a. See Alabama Code 27-31A-2

  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • residing: as used in this article , shall mean any person who remains within any county in the state for a period of more than 24 hours and maintains or uses sleeping quarters anywhere within the county. See Alabama Code 13A-11-180
  • RISK RETENTION GROUP: Any corporation or other limited liability association which meets all of the following:

    a. See Alabama Code 27-31A-2

  • state: Any state of the United States or the District of Columbia. See Alabama Code 27-31A-2