Section 27-2-24 – Examinations – Report; Confidentiality of Information.
Section 27-2-24 Examinations – Report; confidentiality of information. (a) The commissioner, or his or her examiner, shall make a full and true written report of each examination. The examination report shall contain only information obtained from examination of the books, records, accounts, files, or other documents of, or relative to, the person examined, its agents […]
Section 27-2-50 – Established; Appointment, Term of Office, and Compensation of Chief.
Section 27-2-50 Established; appointment, term of office, and compensation of chief. There is hereby established within the Department of Insurance a Receivership Division to be managed and headed by a chief of said division. The chief of said Receivership Division shall be appointed by the Commissioner of Insurance and shall serve at his pleasure. The […]
Section 27-2-25 – Examinations – Expenses.
Section 27-2-25 Examinations – Expenses. (a) Each person being examined shall pay to the commissioner the travel expense to and from such examination, a living expense allowance at such reasonable rates customary for such examination in which state the examination takes place and established or adopted by the commissioner and the compensation of the examiners […]
Section 27-2-51 – Bond of Chief.
Section 27-2-51 Bond of chief. The Chief of the Receivership Division shall make bond payable to the State of Alabama in the amount of $75,000.00, conditioned upon faithful performance of his duties, the premiums of which shall be borne by the state. In addition each receivership court may require adequate bond of said receiver if […]
Section 27-2-26 – Witnesses and Evidence for Examination, Investigation or Hearing – Generally.
Section 27-2-26 Witnesses and evidence for examination, investigation or hearing – Generally. (a) As to the subject of any examination, investigation, or hearing being conducted by him, the commissioner may subpoena witnesses and administer oaths or affirmations and examine any individual under oath or take depositions and, by subpoena duces tecum, may require and compel […]
Section 27-2-52 – Offices, Equipment, and Personnel; Operating Expenses.
Section 27-2-52 Offices, equipment, and personnel; operating expenses. The Commissioner of Insurance shall furnish offices, equipment, operating expenses, and necessary personnel to maintain and operate the Receivership Division. The operating expenses of said division shall as far as practical be paid from the receiverships as administrative expenses on a pro rata basis, such expenses to […]
Section 27-2-27 – Witnesses and Evidence for Examination, Investigation, or Hearing – Compelling Testimony or Production of Documents, etc.; Immunity From Prosecution.
Section 27-2-27 Witnesses and evidence for examination, investigation, or hearing – Compelling testimony or production of documents, etc.; immunity from prosecution. (a) If any individual asks to be excused from attending or testifying or from producing any books, papers, records, contracts, correspondence, or other documents in connection with any examination, hearing, or investigation being conducted […]
Section 27-2-53 – Appointment of Chief as Receiver – Generally.
Section 27-2-53 Appointment of chief as receiver – Generally. Upon the Commissioner of Insurance bringing delinquency proceedings against any insurer pursuant to this title, or other insurance laws of the state, the proper circuit court having jurisdiction thereof shall appoint the Chief of the Receivership Division as receiver of such impaired or insolvent insurer, or […]
Section 27-2-28 – Hearings – Power to Hold.
Section 27-2-28 Hearings – Power to hold. (a) The commissioner may hold hearings for any purpose within the scope of this title deemed by him to be necessary. (b) The commissioner shall hold a hearing if required by any provision, or upon written demand therefor by a person aggrieved by any act, threatened act or […]
Section 27-2-54 – Appointment of Chief as Receiver – Existing Receiverships.
Section 27-2-54 Appointment of chief as receiver – Existing receiverships. The Commissioner of Insurance, as receiver in any existing receivership, may petition the proper receivership court to name as receiver thereof the Chief of the Receivership Division as provided for in this article, and upon making an accounting of the assets of such receivership by […]