§ 27-6-1 Deposits of insurers – Authorized deposits
§ 27-6-2 Deposits of insurers – Purposes for which held
§ 27-6-3 Deposits of insurers – Composition
§ 27-6-4 Deposits of insurers – State Treasurer as custodian
§ 27-6-5 Deposits of insurers – Record of securities and assets
§ 27-6-6 Securities and assets – Assignment and reassignment, etc.; appraisal or valuation
§ 27-6-7 Securities and assets – Power of attorney to sell, etc
§ 27-6-8 Securities and assets – Authority to sell; exception
§ 27-6-9 Power of attorney – Safekeeping; return
§ 27-6-10 Power of attorney – New power of attorney
§ 27-6-11 Excess deposits
§ 27-6-12 Rights of solvent insurers
§ 27-6-13 Sale of surety insurers’ special deposit to pay outstanding judgment
§ 27-6-14 Curing of deficiency in market value of deposit
§ 27-6-15 Release of deposit – Generally
§ 27-6-16 Release of deposit – Filing of statement; authorization of release

Terms Used In Alabama Code > Title 27 > Chapter 6

  • 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.
  • 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.
  • 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.
  • Appraisal: A determination of property value.
  • Arrest: Taking physical custody of a person by lawful authority.
  • Case law: The law as laid down in cases that have been decided in the decisions of the courts.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Extradition: The formal process of delivering an accused or convicted person from authorities in one state to authorities in another state.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • President pro tempore: A constitutionally recognized officer of the Senate who presides over the chamber in the absence of the Vice President. The President Pro Tempore (or, "president for a time") is elected by the Senate and is, by custom, the Senator of the majority party with the longest record of continuous service.
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Probation: A sentencing alternative to imprisonment in which the court releases convicted defendants under supervision as long as certain conditions are observed.
  • 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.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • Trustee: A person or institution holding and administering property in trust.