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27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus Lines Insurance
Multi-State Compliance Compact Act is enacted into law and entered into with all jurisdictions
mutually adopting the compact in the form substantially as follows: PREAMBLE WHEREAS, with
regard to Non-Admitted Insurance policies with risk exposures located in multiple states,
the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted and
Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
37-11A-1
Section 37-11A-1 Execution and text of compact. The Governor, on behalf of this state, shall
execute a compact, in substantially the following form, with the State of Mississippi, and
the Legislature approves and ratifies the compact in the form substantially as follows: Northeast
Mississippi - Northwest Alabama Railroad Authority Compact. The contracting states solemnly
agree: Article I. The purpose of this compact is to promote and develop trade, commerce, industry,
and employment opportunities for the public good and welfare in northeast Mississippi and
northwest Alabama through the establishment of a joint interstate authority to acquire certain
railroad properties and facilities which the operator thereof has notified the Interstate
Commerce Commission of an intention to abandon and which are located in any of Franklin, Marion,
or Winston Counties, Alabama or in Alcorn or Tishomingo Counties, Mississippi. Article II.
This compact shall become effective immediately as to the State...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/37-11A-1.htm - 33K - Match Info - Similar pages
10A-1-8.02
Section 10A-1-8.02 Mergers of entities. (a) A merger of two or more entities, whether the other
entity or entities are the same or another form of entity, may be accomplished as provided
in this section. (1) CORPORATIONS. a. In the case of a corporation, other than a nonprofit
corporation, that is a party to a merger, a plan of merger must be approved in accordance
with the procedures and by the stockholder vote required by Article 11 of Chapter 2A. If the
governing documents of the corporation provide for approval of a merger by less than all of
the corporation's stockholders, approval of the merger shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A, as applicable. No merger of a corporation
into a general or limited partnership may be effected without the consent in writing of each
stockholder who will have personal liability with respect to the surviving entity, notwithstanding
any provision in the governing documents of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.02.htm - 17K - Match Info - Similar pages
27-44-8
Section 27-44-8 Powers and duties of association. (a) If a member insurer is an impaired insurer,
the association may, in its discretion and subject to any conditions imposed by the association
that do not impair the contractual obligations of the impaired insurer, and that are approved
by the commissioner: (1) Guarantee or reinsure, or cause to be guaranteed, assumed, or reinsured,
any or all of the covered policies of the impaired insurers. (2) Provide such moneys, pledges,
notes, guarantees, or other means as are proper to effectuate subdivision (1), and assure
payment of the contractual obligations of the impaired insurer pending action under subdivision
(1). (b) If a member insurer is an insolvent insurer, the association shall, in its discretion
and subject to the approval of the commissioner, do either of the following: (1)a. Guarantee,
assume, or reinsure, or cause to be guaranteed, assumed, or reinsured, the covered policies
of the insolvent insurer. b. Assure payment of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-8.htm - 24K - Match Info - Similar pages
39-2-12
Section 39-2-12 Partial and final payments of contractors by awarding authorities. (a) As used
in this section the following words shall have the meanings ascribed to them as follows: (1)
CONTRACTOR. Any natural person, partnership, company, firm, corporation, association, limited
liability company, cooperative, or other legal entity licensed by the Alabama State Licensing
Board for General Contractors. (2) NONRESIDENT CONTRACTOR. A contractor which is neither a.
organized and existing under the laws of the State of Alabama, nor b. maintains its principal
place of business in the State of Alabama. A nonresident contractor which has maintained a
permanent branch office within the State of Alabama for at least five continuous years shall
not thereafter be deemed to be a nonresident contractor so long as the contractor continues
to maintain a branch office within Alabama. (3) RETAINAGE. That money belonging to the contractor
which has been retained by the awarding authority conditioned on...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/39-2-12.htm - 18K - Match Info - Similar pages
10A-2A-6.24
Section 10A-2A-6.24 Stock rights, options, warrants, and awards. (a) A corporation may issue
rights, options, or warrants for the purchase of stock or other securities of the corporation.
The board of directors shall determine (i) the terms and conditions upon which the rights,
options, or warrants are issued and (ii) the terms, including the consideration for which
the stock or other securities are to be issued. The authorization by the board of directors
for the corporation to issue rights, options, or warrants constitutes authorization of the
issuance of the stock or other securities for which the rights, options, or warrants are exercisable.
(b) The terms and conditions of rights, options, or warrants may include restrictions or conditions
that: (1) preclude or limit the exercise, transfer, or receipt of rights, options, or warrants
by any person or persons owning or offering to acquire a specified number or percentage of
the outstanding stock or other securities of the corporation...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-6.24.htm - 2K - Match Info - Similar pages
8-6-93
Section 8-6-93 Minor may not disaffirm security transaction unless prior written notice of
minority given. A minor who has transferred a security, received or empowered others to receive
dividends, interest, principal, or other payments or distributions, voted or given consent
in person or by proxy or made an election or exercised rights relating to the security has
no right thereafter, as against a bank, broker, issuer, third-party or transfer agent, to
disaffirm or avoid the transaction unless, prior to acting in the transaction, the bank, broker,
issuer, third-party or transfer agent against whom the transaction is sought to be disaffirmed
or avoided had received written notice in the office acting in the transaction that the specific
security is held by a minor. (Acts 1961, No. 1010, p. 1585, ยง3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-6-93.htm - 1K - Match Info - Similar pages
10A-2-6.27
Section 10A-2-6.27 Restriction on transfer of shares and other securities. REPEALED IN THE
2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY 1, 2020. THIS IS NOT IN THE CURRENT
CODE SUPPLEMENT. (a) The articles of incorporation, bylaws, an agreement among shareholders,
or an agreement between shareholders and the corporation may impose restrictions on the transfer
or registration of transfer of shares of corporation. A restriction does not affect shares
issued before the restriction was adopted unless the holders of the shares are parties to
the restriction agreement or voted in favor of the restriction. (b) A restriction on the transfer
or registration of transfer of shares is valid and enforceable against the holder or a transferee
of the holder including an executor, administrator, trustee, guardian, conservator or other
fiduciary entrusted with like responsibility for the person or estate of the holder, provided
the restriction is authorized by this section and, as provided by...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-6.27.htm - 3K - Match Info - Similar pages
10A-2A-7.29
Section 10A-2A-7.29 Inspectors of election. (a) The corporation shall, in advance of any meeting
of stockholders, appoint one or more inspectors to act at the meeting and make a written report
thereof. The corporation may designate one or more persons as alternate inspectors to replace
any inspector who fails to act. If no inspector or alternate is able to act at a meeting of
stockholders, the person presiding at the meeting shall appoint one or more inspectors to
act at the meeting. Each inspector, before entering upon the discharge of the duties of inspector,
shall take and sign an oath faithfully to execute the duties of inspector with strict impartiality
and according to the best of the inspector's ability. (b) The inspectors shall: (1) Ascertain
the number of shares of stock outstanding and the voting power of each; (2) Determine the
shares of stock represented at a meeting and the validity of proxies and ballots; (3) Count
all votes and ballots; (4) Determine and retain for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-7.29.htm - 4K - Match Info - Similar pages
10A-2A-13.23
Section 10A-2A-13.23 Perfection of rights; right to withdraw. (a) A stockholder who receives
notice pursuant to Section 10A-2A-13.22 and who wishes to exercise appraisal rights shall
sign and return the form sent by the corporation and, in the case of certificated stock, deposit
the stockholder's certificates in accordance with the terms of the notice by the date referred
to in the notice pursuant to Section 10A-2A-13.22(b)(2)(ii). In addition, if applicable, the
stockholder shall certify on the form whether the beneficial owner of the stock acquired beneficial
ownership of the stock before the date required to be set forth in the notice pursuant to
Section 10A-2A-13.22(b)(1)(i). If a stockholder fails to make this certification, the corporation
may elect to treat the stockholder's stock as after-acquired stock under Section 10A-2A-13.25.
Once a stockholder deposits the certificates or, in the case of uncertificated stock, returns
the signed forms, that stockholder loses all rights as...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-13.23.htm - 2K - Match Info - Similar pages
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