27-27-37
Section 27-27-37 Dividends - Domestic stock insurers. (a) A domestic stock insurer shall not
pay any cash dividend to stockholders except out of that part of its available surplus funds
which is derived from realized net profits on its business. (b) A stock dividend may be paid
out of any available surplus funds in excess of the aggregate amount of surplus loaned to
the insurer under Section 27-27-40. (c) A dividend otherwise proper may be payable out of
the insurer's surplus even though its total surplus is then less than the aggregate of its
past contributed surplus resulting from issuance of its capital stock at a price in excess
of the par value thereof if payment is conditioned upon receipt of the commissioner's approval
and the insurer does not pay the dividend until the commissioner has done the following: (1)
Approved the payment of the dividend, or (2) Not disapproved the payment of the dividend within
30 days after receipt of notice from the insurer of the declaration...
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27-29-7
Section 27-29-7 Confidentiality of documents, materials, or other information; powers of commissioner;
disclosure and sharing of documents, etc. (a) All documents, materials, or other information,
and copies thereof, in the possession or control of the department that are obtained by or
disclosed to the commissioner or any other person in the course of an examination or investigation
made pursuant to Section 27-29-6 and all information reported pursuant to paragraphs l. and
m. of subdivision (l) of subsection (b) of Section 27-29-3, Section 27-29-4, Section 27-29-5,
and Section 27-29-6.2 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,
and shall not be subject to subpoena. The commissioner may use the documents, materials, and
other information in the furtherance of any regulatory or legal action in the course of the
commissioner's official duties. The documents, materials,...
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27-6-15
Section 27-6-15 Release of deposit - Generally. (a) All deposits in this state made under this
title shall be held on deposit as long as there is outstanding any liability of the insurer
with respect to which the deposit was made. (b) Any such deposit shall be released and returned:
(1) To the insurer upon extinguishment by reinsurance in an insurer authorized to transact
such insurance in this state, or otherwise, of all liability of the insurer for the security
of which the deposit is held; (2) To the insurer during solvency, to the extent such deposit
is in excess of the amount required; or (3) Upon proper order of a court of competent jurisdiction,
to the receiver, conservator, rehabilitator, or liquidator of the insurer or to any other
properly designated official, or officials, who succeed to the management and control of the
insurer's assets. (c) The Treasurer shall release any such deposit, or part thereof, upon
written authorization of the commissioner and of the insurer or...
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27-7-30.3
Section 27-7-30.3 Confidentiality and disclosure of information. (a) Any documents, materials,
or other information in the control or possession of the department that is furnished by an
insurer, producer, or an employee or agent thereof acting on behalf of the insurer or producer,
or obtained by the commissioner in an investigation pursuant to Section 27-7-30, shall be
confidential by law and privileged, shall not be subject to any open records or freedom of
information 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 duties. (b) Neither the commissioner
nor any person who received documents, materials, or other information while acting under
the authority of the commissioner shall be permitted or required to testify...
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33-2-181
Section 33-2-181 Authorization to issue docks facilities revenue bonds. The department, with
the approval of the Governor, may from time to time and at any time, issue its docks facilities
revenue bonds in such aggregate principal amounts as the department, with the approval of
the Governor, may determine to be advisable, for the purpose of providing funds for the acquisition,
construction, equipment or improvement of docks facilities, together with the expenses incident
to the authorization, issuance and sale of such docks facilities revenue bonds. The cost of
so acquiring, constructing, equipping and improving such docks facilities shall be deemed
to include interest that will either accrue or become payable on the docks facilities revenue
bonds issued therefor during the period required for the acquisition, construction, equipment
and improvement of such docks facilities, plus a period not exceeding six months after the
completion thereof. The powers conferred on the department by...
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41-10-36
Section 41-10-36 Definitions. Unless the context requires otherwise, the terms defined in this
section shall have the following meanings for purposes of this division: (1) AFFECTED BOND.
Any obligation or portion thereof which is required under the terms of the code to receive
an allocation of the state ceiling as a condition for the exclusion of interest on such obligation
from the gross income of the recipient thereof for federal income tax purposes. (2) ALLOCATION.
An allocation of a portion of the state ceiling issued by the authority pursuant to the provisions
of this division. (3) APPLICATION. An application for an allocation, submitted by an issuer
under the provisions of this division. (4) APPLICATION FOR CARRYFORWARD ALLOCATION. Any application
filed with the authority seeking an elective carryforward of unused limitation for a "carryforward
purpose" as defined in Section 146(f)(5) of the code. (5) AUTHORITY. The State Industrial
Development Authority, a public corporation of...
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41-10-84
Section 41-10-84 Contents of certificate of incorporation generally; adoption of resolution
by governing body approving form and contents of certificate of incorporation. (a) The certificate
of incorporation of the corporation shall state: (1) The names of the persons forming the
corporation, together with the residence of each thereof and a statement that each of them
is a duly qualified elector of and owner of property in the municipality; (2) The name of
the corporation (which shall be "the state products mart (coliseum) authority located
in _____ County" or some other name of similar import which is available for use); (3)
The location of its principal office, which shall be in the municipality; (4) The purposes
for which the corporation is proposed to be organized; (5) The number of directors, which
shall be not less than three nor more than five, subject, however, to mandatory increase as
provided in this article; and (6) Any other matter relating to the corporation which the...

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45-25-250.03
Section 45-25-250.03 Board of directors. The board of directors shall consist of seven directors
that shall be appointed by the members of the state Legislature that represent all or any
portion of DeKalb County for terms of four years. Provided, however, that initial appointments,
as designated by the appointing authority, shall be made so that two directors shall serve
for two years, two directors for three years, and three directors for four years, so that
the terms of the directors are staggered. All directors shall serve until their successors
are appointed and assume office. As soon as may be practicable after the organization of the
authority, an election shall be held by the board of directors to elect a chair, vice chair,
and a secretary-treasurer. Every two years thereafter, the board shall likewise reorganize
itself. No chair or other board officer shall serve more than two consecutive terms as chair
or other board officer. Upon the expiration of the initial terms, directors...
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10A-2-11.04
Section 10A-2-11.04 Merger of subsidiary. 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, a parent corporation owning at least 80 percent of the outstanding shares of each class
of a subsidiary corporation may merge the subsidiary into itself without approval of the shareholders
of the parent or subsidiary. (b) The board of directors of the parent shall adopt a plan of
merger that sets forth: (1) The names of the parent and subsidiary; and (2) The manner and
basis of converting the shares of the subsidiary into shares, obligations, or other securities
of the parent or any other corporation or into cash or other property in whole or part. (c)
The parent shall mail a copy or summary of the plan of merger to each shareholder of the subsidiary
who does not waive the mailing requirement in writing. (d)...
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11-40-12
Section 11-40-12 Classification of municipalities. (a) There are hereby established eight classes
of municipalities based on the population as certified by the 1970 federal decennial census,
as authorized by Amendment No. 375, Constitution of Alabama of 1901, as follows: Class 1:
All cities with a population of 300,000 inhabitants or more; Class 2: All cities with a population
of not less than 175,000 and not more than 299,999 inhabitants; Class 3: All cities with a
population of not less than 100,000 and not more than 174,999 inhabitants; Class 4: All cities
with a population of not less than 50,000 and not more than 99,999 inhabitants; Class 5: All
cities with a population of not less than 25,000 and not more than 49,999 inhabitants; Class
6: All cities with a population of not less than 12,000 and not more than 24,999 inhabitants;
Class 7: All cities with a population of not less than 6,000 and not more than 11,999 inhabitants;
Class 8: All cities and towns with a population of...
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