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27-27-29
Section 27-27-29 Principal place of business and home office of domestic insurers; maintenance
of assets in state; removal of records or assets; exceptions. (a) Every domestic insurer shall
have, and maintain, its principal place of business and home office in this state and shall
keep in this state complete records of its assets, transactions, and affairs in accordance
with such methods and systems as are customary or suitable as to the kind, or kinds, of insurance
transacted. (b) Every domestic insurer shall have, and maintain, its assets in this state,
or in a financial institution conducting business in this state except as to: (1) Real property
and personal property appurtenant to the real property lawfully owned by the insurer and located
outside this state. (2) The property of the insurer as may be customary, necessary, and convenient
to enable and facilitate the operation of its branch offices and regional home offices located
outside this state as referred to in subsection...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-29.htm - 5K - Match Info - Similar pages
10A-2A-2.07
Section 10A-2A-2.07 Forum selection provisions. (a) The certificate of incorporation or the
bylaws may require that any or all internal corporate claims shall be brought exclusively
in any specified court or courts of this state and, if so specified, in any additional courts
in this state or in any other jurisdictions with which the corporation has a reasonable relationship.
(b) A provision of the certificate of incorporation or bylaws adopted under subsection (a)
shall not have the effect of conferring jurisdiction on any court or over any person or claim,
and shall not apply if none of the courts specified by that provision has the requisite personal
and subject matter jurisdiction. If the court or courts of this state specified in a provision
adopted under subsection (a) do not have the requisite personal and subject matter jurisdiction
and another court of this state does have jurisdiction, then the internal corporate claim
may be brought in the other court of this state,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-2A-2.07.htm - 2K - Match Info - Similar pages
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
27-32-7
Section 27-32-7 Grounds - Liquidation of domestic or alien insurers. The commissioner may apply
to the court for an order appointing him as receiver, if his appointment as receiver shall
not be then in effect, and directing him to liquidate the business of a domestic insurer or
of the United States branch of an alien insurer having trusteed assets in this state, regardless
of whether or not there has been a prior order directing him to rehabilitate such insurer,
upon any of the grounds specified in Section 27-32-6, or if such insurer: (1) Has ceased transacting
business for a period of one year; or (2) Is an insolvent insurer and has commenced voluntary
liquidation or dissolution, or attempts to commence or prosecute any action or proceeding
to liquidate its business or affairs, or to dissolve its corporate charter, or to procure
the appointment of a receiver, trustee, custodian, or sequestrator under any law except this
title. (Acts 1971, No. 407, p. 707, §626.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-7.htm - 1K - Match Info - Similar pages
27-2B-3
Section 27-2B-3 Preparation and submission of RBC report; formulas; desirability of excess
capital; adjustment of inaccurate RBC report. (a) Every domestic insurer shall, on or prior
to each March 1 (the "filing date"), prepare and submit to the commissioner a report
of its RBC levels as of the end of the calendar year just ended, in a form and containing
information as is required by the RBC instructions. In addition, every domestic insurer shall
file its RBC report with: (1) The NAIC according to the RBC instructions. (2) The insurance
commissioner in any state in which the insurer is authorized to do business, if the insurance
commissioner has notified the insurer of its request in writing, in which case the insurer
shall file its RBC report not later than the later of either of the following: a. Fifteen
days from the receipt of notice to file its RBC report with that state. b. The filing date.
(b) A life and health insurer's and a fraternal benefit society's RBC shall be determined...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-2B-3.htm - 3K - Match Info - Similar pages
27-3-7
Section 27-3-7 Authority to transact insurance - Kind or combinations of kinds - Minimum paid-in
capital stock and surplus. (a) To qualify for authority to transact any one kind of insurance,
as defined in Chapter 5 of this title, or combination of kinds of insurance as shown below,
an insurer applying for its original certificate of authority in this state after the effective
date of this title or continuing such original certificate of authority shall possess and
thereafter maintain unimpaired paid-in capital stock, if a stock insurer, or unimpaired surplus,
if a foreign mutual or foreign reciprocal insurer, in amount not less than as applicable under
the schedule below and shall possess when first so authorized such additional funds as surplus
as are required under Section 27-3-8: Kind or kinds of insurance Minimum capital or surplus
required Life $800,000.00 Disability 500,000.00 Life and disability 800,000.00 Property 300,000.00
Marine 300,000.00 Casualty 400,000.00 Surety...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-3-7.htm - 3K - Match Info - Similar pages
27-4A-3
Section 27-4A-3 Generally. (a) Subject to the exceptions and exemptions hereinafter set forth,
for the year beginning on January 1, 1995, and for each year thereafter, every insurer shall
pay to the commissioner a premium tax equal to the percentage, as set out in this subsection,
of the premiums received by the insurer for business done in this state, whether the same
was actually received by the insurer in this state or elsewhere: (1) PREMIUM TAX ON LIFE INSURANCE
PREMIUMS. a. Except as hereinafter provided, the rates of taxation on life insurance premiums
shall be those amounts set out in the following schedule: Year Foreign Insurers Domestic Insurers
1995 2.9 1.3 1996 2.8 1.6 1997 2.7 1.8 1998 2.5 2.1 Every Year Thereafter 2.3 2.3 b. Individual
life insurance policies in a face amount of greater than $5,000 and up to and including $25,000,
excluding group life insurance policies, shall be taxed at the rate of one percent per annum.
c. Individual life insurance policies in a face...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-4A-3.htm - 16K - Match Info - Similar pages
10A-5-9.02
Section 10A-5-9.02 Requirements for articles of merger; effective date. REPEALED IN THE 2014
REGULAR SESSION BY ACT 2014-144 EFFECTIVE JANUARY 1, 2017. (a) If a domestic limited liability
company is merging under this chapter, the domestic limited liability company or other business
entity surviving or resulting from the merger shall file articles of merger in the Office
of the Secretary of State. If a domestic limited liability company is filing the articles
of merger, the articles of merger shall be signed by at least one member of the domestic limited
liability company, and if another business entity is filing the articles of merger, the articles
of merger shall be signed by a person authorized by the other business entity. The articles
of merger shall state all of the following: (1) The name, jurisdiction, and date of formation
or organization of each of the domestic limited liability companies or other business entities
that are to merge. (2) That an agreement of merger has been...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-5-9.02.htm - 3K - Match Info - Similar pages
27-32-3
Section 27-32-3 Delinquency proceedings - Jurisdiction; venue; appeal. (a) The circuit court
shall have original jurisdiction of delinquency proceedings under this chapter, and any court
with jurisdiction is authorized to make all necessary and proper orders to carry out the purposes
of this chapter. (b) The venue of delinquency proceedings against a domestic insurer shall
be in the county of the insurer's principal place of business. The venue of such proceedings
against foreign and alien insurers shall be in the Circuit Court of Montgomery County. (c)
At any time after the commencement of a proceeding under this chapter, the commissioner may
apply to the court for an order changing the venue of and removing the proceedings to Montgomery
County or to any other county of this state in which he deems that such proceeding may be
most economically and efficiently conducted. (d) Delinquency proceedings pursuant to this
chapter shall constitute the sole and exclusive method of liquidating,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-32-3.htm - 2K - Match Info - Similar pages
10A-1-5.08
Section 10A-1-5.08 Name of professional corporation. The name of a domestic professional corporation
or of a foreign professional corporation registered to transact business in this state must
contain the words "professional corporation" or the abbreviation "P.C."
or "PC" and shall otherwise conform to any rule promulgated by a licensing authority
having jurisdiction of a professional service described in the certificate of formation of
the professional corporation. (Acts 1983, No. 83-514, p. 763, §8; Acts 1988, 1st Ex. Sess.,
No. 88-905, p. 474, §1; §10-4-387; amended and renumbered by Act 2009-513, p. 967, §36;
Act 2018-125, §1; Act 2019-94, §2.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-5.08.htm - 990 bytes - Match Info - Similar pages
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