§ 27-41-1 Applicability of chapter
§ 27-41-2 Definitions
§ 27-41-3 Investments which may be counted as admitted assets generally; investments and obligations for investments deemed eligible investments under chapter generally; filing with commissioner of certified statements as to investments or obligations for investm
§ 27-41-4 General requirements as to eligibility of investments
§ 27-41-5 Authorization of investments by board of directors, etc
§ 27-41-6 Limitations upon investments generally
§ 27-41-7 Particular investments – Bonds, notes, etc., of United States
§ 27-41-8 Particular investments – Loans guaranteed by United States
§ 27-41-9 Particular investments – Bonds, etc., of states or counties, municipalities, school districts, etc., therein generally
§ 27-41-10 Particular investments – Bonds, etc., issued by states, counties, municipalities, etc., to provide funds for public projects, etc
§ 27-41-11 Particular investments – Bonds, etc., of local public housing authorities
§ 27-41-12 Particular investments – Obligations issued or guaranteed by certain federal agencies
§ 27-41-13 Particular investments – Bonds, etc., issued, etc., by Canadian government, provinces thereof, etc
§ 27-41-14 Particular investments – Obligations issued, etc., by International Bank for Reconstruction and Development and National Mortgage Association
§ 27-41-15 Particular investments – Obligations of American and Canadian institutions generally
§ 27-41-16 Particular investments – Preferred or guaranteed stocks or shares of American corporations
§ 27-41-17 Particular investments – Common stocks or shares and capital stocks of American and Canadian corporations
§ 27-41-18 Particular investments – American insurance stocks
§ 27-41-19 Particular investments – Transportation equipment trust obligations; notes, etc., secured by leases, agreements, etc., relating to manufacturing, mining, etc., machinery, etc
§ 27-41-20 Particular investments – Leased line obligations of railroads; terminal obligations of railroads and other common carriers
§ 27-41-21 Particular investments – Obligations of religious institutions or societies
§ 27-41-22 Particular investments – Loans secured by liens on interests in oil, gas, or condensate properties, etc
§ 27-41-23 Particular investments – Certificates, etc., issued by trustees or receivers of institutions being administered under court direction
§ 27-41-24 Particular investments – Loans secured by pledges of securities or pledges or assignments of life insurance policies
§ 27-41-25 Particular investments – Policy loans
§ 27-41-26 Particular investments – Shares or savings accounts of savings and loan associations
§ 27-41-27 Particular investments – Securities, etc., of foreign countries
§ 27-41-28 Particular investments – Bonds, etc., guaranteed or insured by United States under federal law or secured by mortgages on ships, barges, etc
§ 27-41-29 Particular investments – Bonds, etc., secured by mortgages or deeds of trust on real property, etc., generally
§ 27-41-30 Particular investments – Loans, notes, etc., secured by mortgages and leases on real property
§ 27-41-31 Particular investments – Data processing and accounting systems
§ 27-41-32 Particular investments – Investments relating to agricultural property securing evidences of indebtedness held by insurers and subject to mortgage foreclosure or insolvency proceedings
§ 27-41-33 Particular investments – Loans on personal property; chattel mortgages
§ 27-41-34 Particular investments – Real estate
§ 27-41-34.1 Particular investments – Oil and gas producing properties and facilities
§ 27-41-35 Miscellaneous investments
§ 27-41-36 Prohibited investments; underwriting, etc., of offerings of securities or property
§ 27-41-37 Investments of mutual aid associations – Generally
§ 27-41-38 Investments of mutual aid associations – Funeral supply inventories and funeral equipment
§ 27-41-39 Investments of foreign and alien insurers; cash equivalents
§ 27-41-40 Effect of failure to dispose of real estate, personal property, securities, etc., within prescribed period of time
§ 27-41-41 Only eligible investments to be counted as admitted assets; treatment of investments partially qualifying as eligible investments

Terms Used In Alabama Code > Title 27 > Chapter 41

  • 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
  • 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.
  • ALABAMA INSURANCE CODE: Title 27 of this code. See Alabama Code 27-41-2
  • 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.
  • Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Civil forfeiture: The loss of ownership of property used to conduct illegal activity.
  • Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • 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
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fixed Rate: Having a "fixed" rate means that the APR doesn't change based on fluctuations of some external rate (such as the "Prime Rate"). In other words, a fixed rate is a rate that is not a variable rate. A fixed APR can change over time, in several circumstances:
    • You are late making a payment or commit some other default, triggering an increase to a penalty rate
    • The bank changes the terms of your account and you do not reject the change.
    • The rate expires (if the rate was fixed for only a certain period of time).
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
  • 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.
  • 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
  • Interrogatories: Written questions asked by one party of an opposing party, who must answer them in writing under oath; a discovery device in a lawsuit.
  • investment: Any asset owned by an insurer. See Alabama Code 27-41-2
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
  • person: The term shall have the meaning ascribed in Section 27-1-2. See Alabama Code 27-41-2
  • personal property: includes money, goods, chattels, things in action and evidence of debt, deeds and conveyances. See Alabama Code 1-1-1
  • Personal property: All property that is not real property.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • preceding: means next before. See Alabama Code 1-1-1
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • 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.
  • Remand: When an appellate court sends a case back to a lower court for further proceedings.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transcript: A written, word-for-word record of what was said, either in a proceeding such as a trial or during some other conversation, as in a transcript of a hearing or oral deposition.