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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...
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15-8-150
Section 15-8-150 Contents; sufficiency; use of analogous forms. The forms of indictment set
forth in this section in all cases in which they are applicable, are sufficient, and analogous
forms may be used in other cases. (1) CAPTION, COMMENCEMENT AND CONCLUSION GENERALLY. The
State of Alabama,) Circuit court, ___ session, ___) 20___ The grand jury of said county charge
that, before the finding of this indictment, etc. (describing the offense as in the following
forms), against the peace and dignity of the State of Alabama. E.F.J.,District Attorney of
the ______ circuit. (2) ADVERTISING, ETC., UNREGISTERED SECURITIES. A. B. did, contrary to
law, and subsequent to the ____ day of ____, 20__, advertise (or otherwise describing the
unlawful act) in this state for the purpose of inducing or securing subscriptions to or sales
of the capital stock of the X. Y. company (or otherwise describing the security so advertised),
which said stock (or other security) had not then...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/15-8-150.htm - 33K - Match Info - Similar pages
27-32-9
Section 27-32-9 Grounds - Conservation of assets - Alien insurers. The commissioner may apply
to the court for an order appointing him as receiver, or ancillary receiver, and directing
him to conserve the assets within this state of any alien insurer upon any of the following
grounds: (1) Upon any of the grounds specified in Sections 27-32-6 or 27-32-7; (2) Upon the
ground that the insurer has failed to comply, within the time designated by the commissioner,
with an order made by him to make good an impairment of its trusteed funds; or (3) Upon the
ground that the property of the insurer has been sequestrated in its domiciliary sovereignty
or elsewhere. (Acts 1971, No. 407, p. 707, §628.)...
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27-33-6
Section 27-33-6 Trust agreement - Authority to make and execute. An alien insurer proposing
to use Alabama as a state of entry to transact insurance in the United States, whether or
not it is then authorized to transact insurance in this state, is authorized to make and execute
any trust agreement required by this chapter. (Acts 1971, No. 407, p. 707, §661.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-33-6.htm - 666 bytes - Match Info - Similar pages
27-32-13
Section 27-32-13 Orders - Liquidation - Alien insurers. An order to liquidate the business
of a United States branch of an alien insurer having trusteed assets in this state shall be
in the same terms as those prescribed for domestic insurers, save and except only that the
assets of the business of such United States branch shall be the only assets included therein.
(Acts 1971, No. 407, p. 707, §632.)...
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27-32-14
Section 27-32-14 Conservation or liquidation of property. (a) An order to conserve the assets
of a foreign or alien insurer shall require the commissioner forthwith to take possession
of the property of the insurer within this state and to conserve it, subject to the further
direction of the court. (b) An order to liquidate the assets in this state of a foreign insurer
shall require the commissioner forthwith to take possession of the property of the insurer
within this state and to liquidate it, subject to the orders of the court and with due regard
to the rights and powers of the domiciliary receiver as provided in this chapter. (Acts 1971,
No. 407, p. 707, §633.)...
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27-33-5
Section 27-33-5 Trust agreement - Requirement; approval by commissioner. (a) The deposit referred
to in Section 27-33-2 shall be made under a written trust agreement between the insurer and
the trustee, consistent with the provisions of this chapter, and shall be authenticated in
such form and manner as the commissioner may designate or approve. (b) The agreement shall
not be effective until filed with and approved in writing by the commissioner. The commissioner
shall not approve any trust agreement found by him not to be in compliance with the law or
the terms of which do not in fact provide reasonably adequate protection for the insurer's
policyholders or policyholders and creditors in the United States. (Acts 1971, No. 407, p.
707, §660.)...
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27-6-14
Section 27-6-14 Curing of deficiency in market value of deposit. (a) If for any reason the
market value of assets and securities of an insurer held on deposit in this state under this
title falls below the amount so required, the insurer shall promptly deposit other or additional
assets or securities eligible for deposit sufficient to cure such deficiency. If the insurer
has failed to cure the deficiency within 30 days after receipt of notice thereof by registered
or certified mail from the commissioner, the commissioner shall revoke the insurer's certificate
of authority. (b) If for any reason the market value of assets and securities of a domestic
life insurer, representing deposit of the reserves of certain of its outstanding registered
policies and registered annuity contracts under laws heretofore in force, falls below the
amount so required and as determined from the insurer's most recent annual statement or most
recent examination of the insurer by the commissioner, the insurer...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-6-14.htm - 1K - Match Info - Similar pages
27-43-9
Section 27-43-9 Bond or deposit requirements. (a) To assure the faithful performance of its
obligations in the event of insolvency, each corporation authorized under Section 27-43-8
shall, through the commissioner, deposit and maintain with the Treasurer of the State securities
of the type eligible for deposit by insurers under Section 27-6-3, which securities shall
have at all times a market value as follows: (1) An insurer which has transacted no legal
expense insurance in this state prior to January 1, 1982, shall, prior to the issuance of
its certificate of authority and before receiving any premiums, place in trust with the Treasurer
of the State, through the commissioner an initial amount of $50,000.00; (2) An insurer transacting
a legal expense insurance business in this state prior to January 1, 1982, and having in force
in this state less than $300,000.00 of gross written premiums, membership fees, or similar
charges shall place in trust with the Treasurer of the State,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-43-9.htm - 4K - Match Info - Similar pages
5-11A-5
Section 5-11A-5 Deposit of security for operation of trust business - Amount required and form;
charges against deposit. Any corporation organized and operating as a trust company or as
a bank authorized by law to do a trust business may deposit with the State Treasurer or elsewhere
United States bonds, bonds, notes or debentures of any federal agency such as a federal land
bank, banks for cooperatives, Farm Home Administration, Federal National Mortgage Association,
etc., Alabama bonds, bonds of any city or county in the State of Alabama or mortgages which
are first liens on real estate, worth in each case double the face of the mortgage, situated
in this state, to an amount not less than $25,000.00, and may increase said deposit from time
to time or reduce the same to an amount not less than $25,000.00, or may withdraw the deposit
entirely, provided such trust companies or banks have made final settlement and accounted
for all assets in their possession and under their control by...
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