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27-29-4
Section 27-29-4 Registration of insurers. (a)(1) Every insurer which is authorized to
do business in this state and which is a member of an insurance holding company system shall
register with the commissioner, except a foreign insurer subject to registration requirements
and standards adopted by statute or regulation in the jurisdiction of its domicile which are
substantially similar to those contained in this section and both of the following:
a. Subdivision (1) of subsection (a) of Section 27-29-5, and subsections (b) and (d)
of Section 27-29-5. b. Either subdivision (2) of subsection (a) of Section 27-29-5
or a provision such as the following: Each registered insurer shall keep current the information
required to be disclosed in its registration statement by reporting all material changes or
additions within 15 days after the end of the month in which it learns of each change or addition.
(2) Any insurer which is subject to registration under this section shall register
within 15...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-4.htm - 8K - Match Info - Similar pages
27-27-45
Section 27-27-45 Merger and consolidations - Domestic stock insurers. (a) A domestic
stock insurer may merge or consolidate with one or more domestic or foreign stock insurers
by complying with the applicable provisions of the statutes of this state governing the merger
or consolidation of stock corporations formed for profit, but subject to subsections (b) and
(c) of this section. (b) No such merger or consolidation shall be effectuated unless
in advance thereof the plan and agreement therefor have been filed with the commissioner and
approved in writing by him after a hearing thereon. The commissioner shall give such approval
within a reasonable time after such filing unless he finds such plan or agreement: (1) Is
contrary to law; (2) Inequitable to the stockholders of any domestic insurer involved; or
(3) Would substantially reduce the security of, and service to be rendered to, policyholders
of the domestic insurer in this state or elsewhere. (c) No director, officer, agent, or...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-45.htm - 2K - Match Info - Similar pages
5-5A-44
Section 5-5A-44 Acquisition of majority of voting shares of a bank; procedure. (a) No
person, acting directly or indirectly or through or in concert with one or more persons, may
acquire control of a state bank or of any corporation or other entity having control of a
state bank, unless an application is filed with the superintendent for review of the proposed
transaction and for his or her action, if any, as provided in this section. (b) The
application shall be on a form prescribed by the superintendent and shall be made under oath.
The application must contain all information that the superintendent by regulation requires
to be furnished in an application, as well as any information that the superintendent orders
to be included in the particular application being filed and shall be accompanied by the filing
fee prescribed by the Banking Board. For the purposes of this section, the Banking
Board may reduce or waive any prescribed fees for applications where a change of control...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-44.htm - 11K - Match Info - Similar pages
27-29A-8
Section 27-29A-8 Confidentiality. (a) Documents, materials, or other information, including
the ORSA Summary Report, in the possession of or control of the Department of Insurance that
are obtained by, created by, or disclosed to the commissioner or any other person under this
chapter, are recognized by this state as being proprietary and to contain trade secrets. All
such documents, materials, or other information shall be confidential by law and privileged,
shall not be subject to any open records, freedom of information, sunshine, or other public
record disclosure laws, shall not be subject to subpoena, and shall not be subject to discovery
or admissible in evidence in any private civil action. However, the commissioner is authorized
to use the documents, materials, or other information in the furtherance of any regulatory
or legal action brought as a part of the commissioner's official duties. The commissioner
shall not otherwise make the documents, materials, or other information...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29A-8.htm - 6K - Match Info - Similar pages
22-50-11
Section 22-50-11 Department - Additional and cumulative powers. The Department of Mental
Health is given hereby the following additional and cumulative powers through its commissioner:
(1) It is authorized and directed to set up state plans for the purpose of controlling and
treating any and all forms of mental and emotional illness and any and all forms of mental
retardation and shall divide the state into regions, districts, areas or zones, which need
not be geographic areas, but shall be areas for the purpose of establishing priorities and
programs and for organizational and administrative purposes in accordance with these state
plans. (2) It is designated and authorized to supervise, coordinate, and establish standards
for all operations and activities of the state related to mental health and the providing
of mental health services; and it is authorized to receive and administer any funds available
from any source for the purpose of acquiring building sites for, constructing,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-50-11.htm - 10K - Match Info - Similar pages
27-25-4
Section 27-25-4 Title insurance agent; appointment; issuance of policies. (a) No person
shall act as a title insurance agent in this state unless licensed pursuant to this chapter.
Nothing herein contained shall be construed to prevent a title insurer licensed to do business
in this state, nor an employee thereof, from issuing a policy of title insurance in this state.
(b) Each title insurance agent acting on behalf of a title insurance company shall be appointed
by the title insurance company in accordance with this chapter. The commissioner shall collect
from the title insurer the fees set forth in Section 27-25-4.7 for each appointment.
Nothing herein contained shall be construed to require the issuance of an appointment as described
in this subsection to a title insurer licensed to do business in this state, nor an employee
thereof, for the purpose of issuing a policy of title insurance in this state. (c) Unless
a later date is specifically authorized by the title insurer for a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-4.htm - 2K - Match Info - Similar pages
27-25-6
Section 27-25-6 Companies to file rates. (a) Every title insurer shall file with the
commissioner its schedule of premium rates and every modification of any premium rate that
it proposes to use in this state. The premium rates shall not be subject to rebate and the
rebate of premiums to the insured are expressly prohibited. If a reissue premium rate is filed
by an insurer, an insured may receive reissue credit only when the insured physically produces
the prior title insurance policy, including schedules associated therewith, issued by a title
insurer licensed to be engaged in the business of title insurance in this state. A title insurer
that has not filed its premium rates pursuant to the provisions hereof shall not engage in
the business of title insurance until such time as its premium rates are filed. No person,
title insurer, agency, or agent shall charge any premium rate for any policy or contract of
title insurance except in accordance with the filed premium rates which are in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-25-6.htm - 2K - Match Info - Similar pages
27-27-42
Section 27-27-42 Deficiencies in stock insurer's capital or assets of mutual insurers
- Curing of deficiency. Any insurer receiving the commissioner's notice mentioned in Section
27-27-41: (1) If a stock insurer and if its articles of incorporation and laws of this state
so permit, by resolution of its board of directors and subject to any limitations upon assessment
contained in its articles of incorporation, may assess its stockholders for amounts necessary
to cure the deficiency and provide the insurer with a reasonable amount of surplus in addition.
If any stockholder fails to pay a lawful assessment after notice given to him in person or
by advertisement in such time and manner as approved by the commissioner, the insurer may
require the return of the original certificate of stock held by the stockholder and, in cancellation
and in lieu thereof, issue a new certificate for such number of shares as the stockholder
may then be entitled to, upon the basis of the stockholder's...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-42.htm - 1K - Match Info - Similar pages
27-28-2
Section 27-28-2 Plan for exchange of stock, etc., between domestic stock insurer and
holding company - Procedure for exchange. A plan of exchange shall be adopted and become effective
in the following manner: (1) APPROVAL OF THE BOARDS OF DIRECTORS. - The boards of directors
of each corporate party to the plan of exchange by resolution shall adopt the plan of exchange
which shall set forth the terms and conditions of the exchange and the mode of carrying the
same into effect and such other provisions with respect to the exchange as may be deemed necessary
or desirable. (2) APPROVAL OF COMMISSIONER. - Every plan of exchange, before being submitted
to vote of the stockholders pursuant to subdivision (3) of this section, shall be submitted
for approval to the commissioner in accordance with the following procedure: a. After the
approval required by subdivision (1) of this section is obtained, the domestic company
shall submit to the commissioner three copies of the plan of exchange and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-28-2.htm - 13K - Match Info - Similar pages
27-33-13
Section 27-33-13 Trusteed assets - Withdrawal. (a) The trust agreement shall provide,
in substance, that no withdrawals of trusteed assets shall be made by the insurer or permitted
by the trustee without the written authorization or approval of the commissioner in advance
thereof except as follows: (1) Any or all income, earnings, dividends, or interest accumulations
of the trusteed assets may be paid over to the United States manager of the insurer upon request
of the insurer or the manager; (2) For substitution, coincidentally with such withdrawal,
of other securities or assets of value at least equal in amount to those being withdrawn,
if such substituted securities or assets are likewise such as are eligible for investment
of the funds of like domestic insurers and if such withdrawal is requested in writing by the
insurer's United States manager pursuant to general or specific written authority previously
given or delegated by the insurer's board of directors, or other similar...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-33-13.htm - 3K - Match Info - Similar pages
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