As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) ACCOUNT. Either of the three accounts created under Section 27-44-6.
(2) ASSOCIATION. The Alabama Life and Disability Insurance Guaranty Association created under Section 27-44-6.
(3) COMMISSIONER. The Commissioner of Insurance of this state.
(4) CONTRACTUAL OBLIGATION. Any obligation under covered policies.
(5) COVERED POLICY. Any policy or contract within the scope of this chapter under Section 27-44-3.
(6) IMPAIRED INSURER. A member insurer deemed by the commissioner after January 1, 1983 to be potentially unable to fulfill its contractual obligations and not an insolvent insurer.
(7) INSOLVENT INSURER. A member insurer which after January 1, 1983, becomes insolvent and is placed under a final order of liquidation, rehabilitation or conservation by a court of competent jurisdiction.
(8) MEMBER INSURER. Any insurer licensed to transact in this state any kind of insurance to which this chapter applies under Section 27-44-3.
(9) PREMIUMS. Direct gross insurance premiums and annuity considerations received on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. "Premiums" do not include premiums and considerations on contracts between insurers and reinsurers.
(10) PERSON. Any individual, corporation, partnership, association or voluntary organization.
(11) RESIDENT. Any person who resides in this state at the time a member insurer is determined to be an impaired or insolvent insurer and to whom contractual obligations are owed.
As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) ACCOUNT. Either of the three accounts created under Section 27-44-6.
(2) ASSOCIATION. The Alabama Life and Disability Insurance Guaranty Association created under Section 27-44-6.
(3) COMMISSIONER. The Commissioner of Insurance of this state.
(4) CONTRACTUAL OBLIGATION. Any obligation under covered policies.
(5) COVERED POLICY. Any policy or contract within the scope of this chapter under Section 27-44-3.
(6) IMPAIRED INSURER. A member insurer deemed by the commissioner after January 1, 1983 to be potentially unable to fulfill its contractual obligations and not an insolvent insurer.
(7) INSOLVENT INSURER. A member insurer which after January 1, 1983, becomes insolvent and is placed under a final order of liquidation, rehabilitation or conservation by a court of competent jurisdiction.
(8) MEMBER INSURER. Any insurer licensed to transact in this state any kind of insurance to which this chapter applies under Section 27-44-3.
(9) PREMIUMS. Direct gross insurance premiums and annuity considerations received on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. "Premiums" do not include premiums and considerations on contracts between insurers and reinsurers.
(10) PERSON. Any individual, corporation, partnership, association or voluntary organization.
(11) RESIDENT. Any person who resides in this state at the time a member insurer is determined to be an impaired or insolvent insurer and to whom contractual obligations are owed.
As used in this chapter, the following terms shall have the following meanings, respectively, unless the context clearly indicates otherwise:
(1) ACCOUNT. Either of the three accounts created under Section 27-44-6.
(2) ASSOCIATION. The Alabama Life and Disability Insurance Guaranty Association created under Section 27-44-6.
(3) COMMISSIONER. The Commissioner of Insurance of this state.
(4) CONTRACTUAL OBLIGATION. Any obligation under covered policies.
(5) COVERED POLICY. Any policy or contract within the scope of this chapter under Section 27-44-3.
(6) IMPAIRED INSURER. A member insurer deemed by the commissioner after January 1, 1983 to be potentially unable to fulfill its contractual obligations and not an insolvent insurer.
(7) INSOLVENT INSURER. A member insurer which after January 1, 1983, becomes insolvent and is placed under a final order of liquidation, rehabilitation or conservation by a court of competent jurisdiction.
(8) MEMBER INSURER. Any insurer licensed to transact in this state any kind of insurance to which this chapter applies under Section 27-44-3.
(9) PREMIUMS. Direct gross insurance premiums and annuity considerations received on covered policies, less return premiums and considerations thereon and dividends paid or credited to policyholders on such direct business. "Premiums" do not include premiums and considerations on contracts between insurers and reinsurers.
(10) PERSON. Any individual, corporation, partnership, association or voluntary organization.
(11) RESIDENT. Any person who resides in this state at the time a member insurer is determined to be an impaired or insolvent insurer and to whom contractual obligations are owed.
