Code of Alabama - Title 27: Insurance - Chapter 38 - Separate Accounts and Variable Annuities

• Section 27-38-1 Establishment of separate accounts by life insurers to provide for life insurance or annuities and benefits incidental thereto
  A life insurer organized under the laws of this state may, by or pursuant to a resolution of its board of directors, establish one or...
• Section 27-38-2 Variable contracts - Statement of procedures for determining benefits; death benefit provision
  (a) Any variable contract providing benefits payable in variable amounts delivered, or issued for delivery, in this state shall contain a statement of the essential...
• Section 27-38-3 Variable contracts - Licensing of insurer
  (a) No insurer shall deliver, or issue for delivery, within this state variable contracts unless it is licensed to do a life insurance or annuity...
• Section 27-38-4 Variable contracts - Rules and regulations
  Notwithstanding any other provision of law, the commissioner shall have sole authority to regulate the issuance and sale of variable contracts and the licensing of...
• Section 27-38-5 Reserve liability for variable contracts
  The reserve liability for variable contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any...
• Section 27-38-6 Applicability of title
  Except for Sections 27-15-16, 27-15-17, 27-15-22, 27-15-23, and 27-15-28.1 of this title, in the case of a variable annuity contract, and Sections 27-15-2, 27-15-3, 27-15-8.1,...

Last modified: May 3, 2021