27-31B-21
Section 27-31B-21 Conversion to or merger with reciprocal insurer. (a) An association captive insurance company or industrial insured group formed as a stock or mutual corporation may be converted to or merged with and into a reciprocal insurer in accordance with a plan therefor and this section. (b) A plan for this conversion or merger shall satisfy both of the following: (1) Be fair and equitable to the shareholders, in the case of a stock insurer, or the policyholders, in the case of a mutual insurer. (2) Provide for the purchase of the shares of any nonconsenting shareholder of a stock insurer or the policyholder interest of any nonconsenting policyholder of a mutual insurer in substantially the same manner and subject to the same rights and conditions as are accorded a dissenting shareholder under Article 13, commencing with Section 10-2B-13.01, of Chapter 2B of Title 10. (c) A conversion authorized under subsection (a) shall satisfy all of the following: (1) The conversion shall...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-31B-21.htm - 5K - Match Info - Similar pages
27-60-2
Section 27-60-2 Interstate Insurance Product Regulation Compact. The State of Alabama hereby agrees to the following interstate compact known as the Interstate Insurance Product Regulation Compact: ARTICLE I. PURPOSES. The purposes of this compact are, through means of joint and cooperative action among the compacting states: 1. To promote and protect the interest of consumers of individual and group annuity, life insurance, disability income, and long-term care insurance products; 2. To develop uniform standards for insurance products covered under the compact; 3. To establish a central clearinghouse to receive and provide prompt review of insurance products covered under the compact and, in certain cases, advertisements related thereto, submitted by insurers authorized to do business in one or more compacting states; 4. To give appropriate regulatory approval to those product filings and advertisements satisfying the applicable uniform standard; 5. To improve coordination of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-60-2.htm - 45K - Match Info - Similar pages
28-3A-5
Section 28-3A-5 Issuance and renewal of licenses; penalty for delinquent renewal. (a) Upon receipt of the application, the proper fees, the bond if required, and upon being satisfied of the truth of the statements in the application and that the applicant is a person of good repute, the board shall grant and issue to applicant the appropriate license entitling the applicant to engage in the alcoholic beverage transactions authorized by such license as set forth in this chapter. All applications for licenses and accompanying statements shall be kept in the office of the board for a period of three years and shall be open for public inspection. (b) Licenses issued under the provisions of this chapter shall be renewed annually upon the filing of applications, in such form as the board shall prescribe, at least 60 days before the expiration and upon payment to the board of the appropriate license fees, unless the board has good cause for not renewing or reissuing the license. Unless within...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/28-3A-5.htm - 2K - Match Info - Similar pages
45-32-150.05
Section 45-32-150.05 Duties of commission. It shall be the duty of the county racing commission to carry out this part; and it shall have the following specific duties: (1) To fix and set dates upon which race meetings may be held or operated. (2) To make an annual report to the county commission of its operation, showing its own actions and rulings, and receipts derived under this part, and such suggestions as it may deem proper for the more effective accomplishment of the purpose of this part. (3) To require each applicant, who shall have been a resident of the State of Alabama for at least five years immediately preceding the date the license is issued, to set forth on his or her application for a license to operate a race meeting the following information: a. The full name of the person, association, or corporation and if a corporation, the name of the state under which the same is incorporated, and the name of the corporation's agents for service of process within the State of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-32-150.05.htm - 3K - Match Info - Similar pages
8-17-248
Section 8-17-248 Municipal explosives use permit. (a) No person, unless otherwise exempted by this article, shall engage in blasting or other use of explosives for commercial purposes without first obtaining a municipal explosives use permit from the appropriate local issuing authority. The appropriate local issuing authority for the municipal explosives use permit shall be the municipality within police jurisdiction of which the proposed blasting would take place. Copies of all permits shall be forwarded to the office. (b) The issuing authority shall issue permits in accordance with this article and the rules and regulations promulgated by the office. (c) Terms of the permit shall be effective for one year or at the termination of the commercial purpose, whichever occurs first, with the right of successive renewal upon expiration of the terms of the permit unless the permit has been suspended or revoked. (d) The issuing authority shall collect a municipal explosives use permit fee of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-17-248.htm - 1K - Match Info - Similar pages
27-27-3
Section 27-27-3 Power of domestic insurers to indemnify directors, etc. Without limiting the powers and authorities of domestic insurers, as provided in Section 27-27-61, a domestic insurer shall have the power and is hereby authorized to indemnify any director, officer, or employee, or former director, officer, or employee of the corporation, or any person who may have served at its request as a director or officer of another corporation in which it owns shares of capital stock or of which it is a creditor against expenses actually and reasonably incurred by him in connection with the defense of any action or proceeding, civil or criminal, in which he is made a party by reason of being, or having been, such director or officer, except in relation to matters as to which he shall be adjudged in such action or proceeding to be liable for negligence or misconduct in the performance of duty to the corporation and to make any other indemnification that shall be authorized by the articles of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-3.htm - 1K - Match Info - Similar pages
27-30-8
Section 27-30-8 Certificate of authority - Application. (a) To apply for a certificate of authority, a mutual aid association shall file with the commissioner its application therefor, on forms as prescribed and furnished by him, and showing: (1) Name of the association and the address of its principal office or place of business in this state; (2) Name, identification, and residence address of each director, trustee, or officer of the association; (3) The types of aid or benefits to be provided its members or policyholders; (4) The general plan or plans according to which its business is, or will be, conducted; and (5) Such other information as the commissioner may reasonably require. (b) The applicant shall at the time of application for certificate of authority file with the commissioner such of the following as are not already on file with him: (1) A copy of its articles of incorporation, its bylaws, and other charter or constituent documents, certified by the public official...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-8.htm - 2K - Match Info - Similar pages
27-30-9
Section 27-30-9 Certificate of authority - Issuance or refusal. If, upon completion of the application for a certificate of authority, the commissioner finds: (1) That the documents filed with the application are lawful and equitable in terms and have been properly executed and filed; (2) That the applicant has the amount of unimpaired paid-in capital stock and/or surplus as required under this chapter and has made the deposit required under Section 27-30-18; (3) That the forms of contracts, policies, or other agreements proposed to be used by the association in this state fulfill the requirements of Section 27-30-14 and are not disapproved by him on any ground referred to in subsection (c) of Section 27-30-14; (4) That the proposed schedule of fees, dues, contributions, or other sums to be charged or received by the association are provided for on a practical and feasible basis and would be adequate in amount to cover the risks and obligations to be assumed by the association under...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-30-9.htm - 2K - Match Info - Similar pages
45-49-151.05
Section 45-49-151.05 Duties of commission. The racing commission shall implement this subpart and shall have the following specific duties: (1) To set dates upon which race meetings may be operated, except Sundays. (2) To make an annual report to the chair of the county legislative delegation, to the president or chair of the county foundation for higher education, and to the mayor of each municipality reflecting receipts derived under this subpart. The report may contain suggestions necessary for the implementation of this subpart. (3) To require the following information for each application for a racing license: a. The full name of the person, association, or corporation, including the state of incorporation and the names of the agents for service of process within the State of Alabama. b. The names of the stockholders and directors of a corporate applicant and the names of the officers and directors of any association. c. The exact desired location for the conduct of any race...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/45-49-151.05.htm - 2K - Match Info - Similar pages
8-14-1
Section 8-14-1 Records to be kept by persons selling personal property at auction; inspection of records by law enforcement officers. (a) Every person, firm, or corporation engaged in the business of selling personal property at public auction in the State of Alabama, whether the same shall be their own property or whether they sell the same at auction as agent or employee of others, shall keep and maintain records in which shall be described and inventoried all articles of personal property received by such person, firm, or corporation for sale at auction, including the date of such receipt, the date of sale, the names and addresses of persons from whom the property was received for sale, and the names and addresses of persons to whom the property was sold; provided, that the provisions of this section shall not apply to the sale of livestock at auction. (b) The records required to be kept by this section shall be open at all times to inspection by all law enforcement officers; and...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-14-1.htm - 1K - Match Info - Similar pages
|