§ 27-41-2 — Definitions

Alabama § 27-41-2

• Jurisdiction: Alabama
• Title 27: Insurance
• Ch. 41: Investments of Domestic Insurers and Health Maintenance Organizations

Text

As used in this chapter, the following terms shall have the respective meanings herein set forth, unless the context shall otherwise require:
(1) ALABAMA INSURANCE CODE. Title 27 of this code.
(2) INSURER. The term shall have the meaning ascribed in Section 27-1-2 and shall include health maintenance organizations.
(3) PERSON. The term shall have the meaning ascribed in Section 27-1-2.
(4) COMMISSIONER and DEPARTMENT. The terms, respectively, shall have the meanings ascribed in Section 27-1-2.
(5) INVESTMENT. Any asset owned by an insurer.
(6) 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.
(7) DOMESTIC INSURER, FOREIGN INSURER, and ALIEN INSURER. The terms shall have the meanings ascribed in Section 27-1-2 and shall include health maintenance organizations.
(8) 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.

Legislative History

(Acts 1977, No. 408, p. 530, §2; Acts 1993, No. 93-675, p. 1240, §13.)