2009 Alabama Code
Title 10 — CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS.
Chapter 4 — PARTICULAR CORPORATIONS, ASSOCIATIONS, ETC.
Section 10-4-109 Regulation of rates, charges, fees and dues.

Regulation of rates, charges, fees and dues.

The rates, charges, fees and dues to be paid by the public for benefits under said health service plan and for contracts or certificates covering same shall not be unreasonably high or excessive, shall be adequate to meet the liability assumed under such contracts and all expenses in connection therewith, shall be adequate for the safeness and soundness of the corporation and shall take into account past and prospective loss experience. Said corporation shall file with the Commissioner of Insurance any change in its rates, charges, fees and dues, and, as soon as reasonably possible after the filing has been made the commissioner shall, in writing, approve or disapprove the same, provided that, unless disapproved within 30 days after filing, such changed rates, charges, fees or dues shall be deemed to be approved by him. The commissioner shall approve such rates, charges, fees, and dues which are consistent with and shall disapprove such rates, charges, fees and dues which are not consistent with, the standards and factors set forth in the first sentence of this section; provided, that notwithstanding the foregoing, when a filing of changes in rates, charges, fees and dues for existing classifications of risks does not involve a change in the relationship between such rates and the expense portion thereof or does not involve a change of the element of expenses which are paid as a percentage of premiums and does not involve a change in rate relativities among such classifications on any basis other than loss experience, the changed rates in such filing shall become effective upon the date or dates specified in the filing and shall be deemed to meet the requirements of this section.