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10A-2-11.01
Section 10A-2-11.01 Merger. REPEALED IN THE 2019 REGULAR SESSION BY ACT 2019-94 EFFECTIVE JANUARY
1, 2020. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. (a) Subject to the limitations of the
Constitution of Alabama of 1901 as the same may be amended from time to time, one or more
corporations may merge into another corporation if the board of directors of each corporation
adopts and its shareholders, if required by Section 10A-2-11.03, approve a plan of merger.
(b) The plan of merger must set forth: (1) The name of each corporation planning to merge
and the name of the surviving corporation into which each other corporation plans to merge;
(2) The terms and conditions of the merger; and (3) The manner and basis of converting the
shares of each corporation into shares, obligations, or other securities of any other corporation
or into cash or other property in whole or part. (c) The plan of merger may set forth: (1)
Amendments to the articles of incorporation of the surviving corporation;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2-11.01.htm - 1K - 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
27-31-28
Section 27-31-28 Merger or conversion of domestic insurer. (a) A domestic reciprocal insurer,
upon affirmative vote of not less than two thirds of its subscribers who vote on such merger,
pursuant to due notice and the approval of the commissioner of the terms therefor, may merge
with another reciprocal insurer or be converted to a stock or mutual insurer. (b) Such a stock
or mutual insurer shall be subject to the same capital or surplus requirements and shall have
the same rights as a like domestic insurer transacting like kinds of insurance. (c) The commissioner
shall not approve any plan for such merger or conversion which is inequitable to subscribers
or which, if for conversion to a stock insurer, does not give each subscriber preferential
right to acquire stock of the proposed insurer proportionate to his interest in the reciprocal
insurer, as determined in accordance with Section 27-31-27 and a reasonable length of time
within which to exercise such right. (Acts 1971, No. 407,...
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10A-2A-11.04
Section 10A-2A-11.04 Action on a plan of merger or stock exchange. In the case of a corporation
that is a constituent organization or the acquired entity in a stock exchange, the plan of
merger or stock exchange shall be adopted in the following manner: (a) The plan of merger
or stock exchange shall first be adopted by the board of directors. (b) Except as provided
in subsections (h), (j), and (l) and in Section 10A-2A-11.05, the plan of merger or stock
exchange shall then be approved by the stockholders. In submitting the plan of merger or stock
exchange to the stockholders for approval, the board of directors shall recommend that the
stockholders approve the plan or, in the case of an offer referred to in subsection (j)(2),
that the stockholders tender their stock to the offeror in response to the offer, unless (i)
the board of directors makes a determination that because of conflicts of interest or other
special circumstances it should not make a recommendation or (ii) Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-11.04.htm - 11K - Match Info - Similar pages
26-1A-204
Section 26-1A-204 Real property. (a) Unless the power of attorney otherwise provides, language
in a power of attorney granting general authority with respect to real property authorizes
the agent to: (1) demand, buy, lease, receive, accept as a gift or as security for an extension
of credit, or otherwise acquire or reject an interest in real property or a right incident
to real property; (2) sell; exchange; convey with or without covenants, representations, or
warranties; quitclaim; release; surrender; retain title for security; encumber; partition;
consent to partitioning; subject to an easement or covenant; subdivide; apply for zoning or
other governmental permits; plat or consent to platting; develop; grant an option concerning;
lease; sublease; contribute to an entity in exchange for an interest in that entity; or otherwise
grant or dispose of an interest in real property or a right incident to real property; (3)
pledge or mortgage an interest in real property or right incident to...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/26-1A-204.htm - 3K - Match Info - Similar pages
36-6-1
Section 36-6-1 "Employee" defined; time of payment of salaries generally. (a) For
the purpose of this section the word "employee" shall be defined as: (1) Everyone
in the classified, exempt, or unclassified service of the state as defined in Section 36-26-10,
(2) Legislative personnel, officers and employees, Legislative Reference Service personnel,
and Legislative Fiscal Office personnel, (3) All court officials and employees of the Unified
Judicial System serving the trial courts, (4) Employees of the Administrative Office of Courts
paid on a biweekly basis, and (5) All hourly personnel who are considered to be permanent
employees. (b) Every state employee whether subject to the state Merit System or not shall
be paid biweekly two weeks in arrears through March 17, 2006, and beginning April 3, 2006,
shall be paid semi-monthly one payday in arrears, except that elected officials and appointees
whose pay is based on an annual salary for the position held shall be payable in equal...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/36-6-1.htm - 4K - Match Info - Similar pages
11-52-32
Section 11-52-32 Approval or disapproval of plat generally; legal effect of approval; powers
of planning commission as to subdivision zoning; approval or disapproval of plat in certain
cities. (a) Except where the development of a subdivision within the territorial jurisdiction
of a municipal planning commission is regulated by the county commission pursuant to Section
11-52-30, the municipal planning commission shall approve or disapprove a plat within 30 days
after the submission thereof to it; otherwise, the plat shall be deemed to have been approved,
and a certificate to that effect shall be issued by the municipal planning commission on demand;
provided, however, that the applicant for the municipal planning commission's approval may
waive this requirement and consent to an extension of such period. The ground of disapproval
of any plat shall be stated upon the records of the municipal planning commission. Any plat
submitted to the municipal planning commission shall contain the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/11-52-32.htm - 5K - Match Info - Similar pages
45-37-123.01
Section 45-37-123.01 Definitions. For the purposes of this part, the following terms shall
have the following meanings: (1) ACT. The act adding this part, to be called the General Retirement
System for Employees of Jefferson County Act. (2) ACTIVE MEMBER. An individual who currently
is employed by the county or other entities set forth in subdivision (20) and is making employee
contributions to the system. (3) ACTUARIAL EQUIVALENT. Effective July 30, 1984, or such other
dates as set forth in Exhibit A, which is maintained in the office of the pension board, a
form of benefit differing in time, period, or manner of payment from a specific benefit provided
under the plan but having the same value when computed using the mortality tables, the interest
rate, and any other assumptions last adopted by the pension board, which assumptions shall
clearly preclude any discretion in the determination of the amount of a member's benefit.
(4) ACTUARIAL GAIN. As defined in Section...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-37-123.01.htm - 27K - Match Info - Similar pages
27-31B-3
Section 27-31B-3 Licensing. (a) Any captive insurance company, when permitted by its articles
of association, charter, or other organizational document, may apply to the commissioner for
a license to do any and all insurance defined in Sections 27-5-2, 27-5-4, and 27-5-5, in subdivisions
(1), (2), (4), (5), (6), (7), (8), (9), (10), (11), (12), (13), and (14) of subsection (a)
of Section 27-5-6, in Sections 27-5-7, 27-5-8, 27-5-9, and 27-5-10, and to grant annuity contracts
as defined in Section 27-5-3, subject, however, to all of the following: (1) No pure captive
insurance company may insure any risks other than those of its parent and affiliated companies
or controlled unaffiliated business. (2) No association captive insurance company may insure
any risks other than those of the member organizations of its association, and their affiliated
companies. (3) No industrial insured captive insurance company may insure any risks other
than those of the industrial insureds that comprise...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-3.htm - 11K - Match Info - Similar pages
27-44-9
Section 27-44-9 Assessments. (a) For the purpose of providing the funds necessary to carry
out the powers and duties of the association, the board of directors shall assess the member
insurers, separately for each account, at such time and for such amounts as the board finds
necessary. Assessments shall be due not less than 30 days after prior written notice to the
member insurers and shall accrue interest at six percent per annum on and after the due date.
(b) There shall be two classes of assessments, as follows: (1) Class A assessments shall be
authorized and called for the purpose of meeting administrative and legal costs and other
expenses. Class A assessment may be authorized and called whether or not related to a particular
impaired or insolvent insurer. (2) Class B assessments shall be authorized and called to the
extent necessary to carry out the powers and duties of the association under Section 27-44-8
with regard to an impaired or insolvent insurer. (c)(1) The amount of a...
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