27-27-22
Section 27-27-22 Domestic mutual insurers - Bylaws. (a) A domestic mutual insurer shall have
bylaws for the government of its affairs. The initial board of directors of a domestic mutual
insurer shall adopt original bylaws, subject to the approval of the insurer's members at the
next succeeding meeting. The members shall have power to make, modify, and revoke bylaws.
(b) The bylaws shall provide: (1) That each member is entitled to one vote upon each matter
coming to a vote at meetings of members or to more votes in accordance with a reasonable classification
of members as set forth in the bylaws and based upon the amount of insurance in force, number
of policies held, or upon the amount of the premiums paid by such member or upon other reasonable
factors. A member shall have the right to vote in person or by his written proxy made not
less than 30 days prior to the meeting. No such proxy shall be made irrevocable for longer
than a period of three years; (2) For election of directors...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-22.htm - 2K - Match Info - Similar pages

27-31-7
Section 27-31-7 Certificate of authority - Application by domestic insurer; contents of declaration.
(a) Twenty-five or more persons domiciled in this state may organize a domestic reciprocal
insurer and make application to the commissioner for a certificate of authority to transact
insurance. (b) The proposed attorney shall fulfill the requirements of and shall execute and
file with the commissioner when applying for a certificate of authority a declaration setting
forth: (1) The name of the insurer; (2) The location of the insurer's principal office, which
shall be the same as that of the attorney and shall be maintained within this state; (3) The
kinds of insurance proposed to be transacted; (4) The names and addresses of the original
subscribers; (5) The designation and appointment of the proposed attorney and a copy of the
power of attorney; (6) The names and addresses of the officers and directors of the attorney,
if a corporation, or its members, if a firm; (7) The powers of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31-7.htm - 2K - Match Info - Similar pages

27-31B-8
Section 27-31B-8 Formation of captive insurance companies in this state. (a) A pure captive
insurance company or a protected cell captive insurance company shall be formed as a stock
or mutual insurer, or as a nonprofit or limited liability company with its capital divided
into units and held by the stockholders, members, or other equivalent as allowed by law. (b)
An association captive insurance company, an industrial insured captive insurance company,
or a risk retention group may be formed in any of the following ways: (1) Organized as a stock
insurer with its capital divided into share units and held by the stockholders, members, or
other equivalent as allowed by law. (2) Organized as a mutual insurer without capital stock,
the governing body of which is elected by the member organizations of its association. (3)
Organized as a reciprocal insurer in accordance with Chapter 31 of this title. (4) Organized
as a manager-managed limited liability company. (c) A captive insurance...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-8.htm - 6K - Match Info - Similar pages

41-10-723
Section 41-10-723 Alabama Construction Recruitment Institute - Application. (a) The Alabama
Construction Recruitment Institute shall be incorporated as a public corporation with the
powers herein provided. (b) The Governor, the state Commissioner of Revenue, and the Director
of Finance shall present to the Secretary of State of Alabama an application signed by them
which shall set forth all of the following: (1) The name, official designation, and official
residence of each of the applicants and the initial appointed members of the board. (2) The
date on which each applicant and member of the board took office or was appointed, respectively,
by his or her respective appointing authority and the term of office of each member's respective
appointing authority. (3) The location of the principal office of the proposed corporation,
which shall be in the City of Montgomery. (4) Any other matter relating to the institute which
the applicants may choose to insert and which is not inconsistent...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/41-10-723.htm - 2K - Match Info - Similar pages

22-30F-6
Section 22-30F-6 Alabama Land Recycling Finance Authority - Incorporation. (a) To become a
corporation, the Governor, the Lieutenant Governor, the Speaker of the House of Representatives,
the director of the department, and the Director of Finance shall present to the Secretary
of State of Alabama an application signed by them which shall set forth the following: (1)
The name and official designation of each of the applicants, together with a certified copy
of the commission evidencing each applicant's right to office. (2) The date on which each
applicant was inducted into office and the term of office of each of the applicants. (3) The
name of the proposed corporation, which shall be the "Alabama Land Recycling Finance
Authority." (4) The location of the principal office of the proposed corporation. (5)
Any other matter relating to the incorporation which the applicants may choose to insert and
which is not inconsistent with this chapter. (b) The application shall be subscribed and...

alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-30F-6.htm - 3K - Match Info - Similar pages

10A-2A-11.02
Section 10A-2A-11.02 Merger. (a) A corporation may merge with one or more other constituent
organizations pursuant to this article, and a plan of merger, if: (1) the governing statute
of each of the other organizations authorizes the merger; (2) the merger is not prohibited
by the law of a jurisdiction that enacted any of those governing statutes; and (3) each of
the other organizations complies with its governing statute in effecting the merger. (b) A
plan of merger must be in writing and must include: (1) the name, type of organization, and
mailing address of the principal office of each constituent organization, the jurisdiction
of the governing statute of each constituent organization, and the respective unique identifying
number or other designation as assigned by the Secretary of State, if any, of each constituent
organization; (2) the name, type of organization, and mailing address of the principal office
of the surviving organization, the unique identifying number or other...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-11.02.htm - 4K - Match Info - Similar pages

10A-2A-11.06
Section 10A-2A-11.06 Statement or merger or stock exchange. (a) After a plan of merger has
been adopted and approved as required by this article, then a statement of merger shall be
signed by each party to the merger except as provided in Section 10A-2A-11.05(a). The statement
of merger must set forth: (1) the name, type of organization, and mailing address of the principal
office of each constituent organization, the jurisdiction of the governing statute of each
constituent organization, and the respective unique identifying number or other designation
as assigned by the Secretary of State, if any, of each constituent organization; (2) the name,
type of organization, and mailing address of the principal office of the surviving organization,
the unique identifying number or other designation as assigned by the Secretary of State,
if any, of the surviving organization, the jurisdiction of the governing statute of the surviving
organization, and, if the surviving organization is created...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-11.06.htm - 6K - Match Info - Similar pages

2-10-98
Section 2-10-98 Organization with capital stock. Incorporated associations may be organized
under this article with capital stock at the option of the organizers. In that event the association
shall be organized by the same method and for the same recording fee as in the case of those
associations organized without capital stock, except that the articles of association shall
set forth also that the association is organized with capital stock and the amount of capital
stock authorized with particulars as to the class or classes thereof and the par value of
shares. There shall be no individual liability on the part of shareholders, members, officers
or directors for the obligations of the corporation. The articles of association may provide
for preferred stock as well as common stock, but all shares shall have a definite par value,
and all shares of the same class shall have the same par value. If so divided, the articles
of incorporation must contain a statement of the number of shares...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/2-10-98.htm - 2K - Match Info - Similar pages

35-8A-220
Section 35-8A-220 Master associations. (a) If the declaration for a condominium provides that
any of the powers described in Section 35-8A-302 are to be exercised by or may be delegated
to a profit or nonprofit corporation which exercises those or other powers on behalf of one
or more condominiums or for the benefit of the unit owners of one or more condominiums, all
provisions of this chapter applicable to unit owners' associations apply to any such corporation
with regard to such delegated power except as modified by this section. (b) Unless it is acting
in the capacity of an association described in Section 35-8A-301, a master association may
exercise the powers set forth in Section 35-8A-302(a)(2) only to the extent expressly permitted
in the declarations of condominiums which are part of the master association or expressly
described in the delegations of power from those condominiums to the master association. (c)
If the declaration of any condominium provides that the board may...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/35-8A-220.htm - 2K - Match Info - Similar pages

10A-2A-13.02
Section 10A-2A-13.02 Right to appraisal. (a) A stockholder is entitled to appraisal rights,
and to obtain payment of the fair value of that stockholder's stock, in the event of any of
the following corporate actions: (1) consummation of a merger to which the corporation is
a party (i) if the corporation is a subsidiary and the merger is governed by Section 10A-2A-11.05
or (ii) if stockholder approval is required for the merger by Section 10A-2A-11.04, or would
be required but for the provisions of Section 10A-2A-11.04(j), except that appraisal rights
shall not be available to any stockholder of the corporation with respect to stock of any
class or series that remain outstanding after consummation of the merger; (2) consummation
of a stock exchange to which the corporation is a party the stock of which will be acquired,
except that appraisal rights shall not be available to any stockholder of the corporation
with respect to any class or series of stock of the corporation that is not...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-13.02.htm - 7K - Match Info - Similar pages