Section 27-2-23 – Examinations – How Conducted.
Section 27-2-23 Examinations – How conducted. (a) The examination may be conducted by the commissioner or his accredited examiners at the offices wherever located of the person being examined and at such other places as may be required for determination of matters under examination. (b) Every person being examined, its officers, attorneys, employees, agents, and […]
Section 27-2-39 – Creation of Insurance Department Fund; Payment of Fees, Etc.
Section 27-2-39 Creation of Insurance Department Fund; payment of fees, etc. THIS SECTION WAS AMENDED BY ACT 2022-148 IN THE 2022 REGULAR SESSION, EFFECTIVE OCTOBER 1, 2022. TO SEE THE AMENDED VERSION, SEE THE VERSION LABELED PENDING. (a) There is created a fund in the State Treasury designated the “Insurance Department Fund” to be used […]
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 […]