§ 27-36-1 Liabilities generally
§ 27-36-2 Unearned premium reserve – Title insurance
§ 27-36-3 Unearned premium reserve – Property, general casualty and surety insurance
§ 27-36-3.1 Unearned premium reserve – Bail bond surety insurers
§ 27-36-4 Unearned premium reserve – Marine and transportation insurance
§ 27-36-5 Active life reserve for disability insurance
§ 27-36-6 Increase of inadequate loss reserves
§ 27-36-7 Standard Valuation Law

Terms Used In Alabama Code > Title 27 > Chapter 36

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Bail: Security given for the release of a criminal defendant or witness from legal custody (usually in the form of money) to secure his/her appearance on the day and time appointed.
  • circuit: means judicial circuit. See Alabama Code 30-3D-608
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.