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27-42-9
Section 27-42-9 Plan of operation. (a) The association shall submit to the commissioner a plan
of operation and any amendments thereto necessary or suitable to assure the fair, reasonable,
and equitable administration of the association. The plan of operation and any amendments
thereto shall become effective upon approval in writing by the commissioner. If the association
fails to submit a suitable plan of operation within 90 days following January 1, 1981, or
if at any time thereafter the association fails to submit suitable amendments to the plan,
the commissioner shall, after notice and hearing, adopt and promulgate such reasonable rules
as are necessary or advisable to effectuate the provisions of this chapter. Such rules shall
continue in force until modified by the commissioner or superseded by a plan submitted by
the association and approved by the commissioner. (b) All member insurers shall comply with
the plan of operation. (c) The plan of operation shall: (1) Establish...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-42-9.htm - 3K - Match Info - Similar pages
10A-1-8.01
in accordance with the procedures and by the stockholder vote required by Article 9 of Chapter
2A. If the governing documents provide for approval of a conversion by less than all of a
corporation's stockholders, approval of the conversion shall constitute corporate action subject
to appraisal rights pursuant to Article 13 of Chapter 2A. No conversion of a corporation to
a general or limited partnership may be effected without the consent in writing of each stockholder
who will have personal liability with respect to the converted entity, notwithstanding
any provision in the governing documents of the converting corporation providing for less
than unanimous stockholder approval for the conversion. b. The terms and conditions of a plan
of conversion of a nonprofit corporation must be approved by all the nonprofit corporation's
members entitled to vote thereon, if it is a nonprofit corporation with members with voting
rights, or as otherwise provided in the nonprofit...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.01.htm - 18K - Match Info - Similar pages
27-44-10
Section 27-44-10 Submission of plan of operation and amendments; promulgation of rules in absence
of plan. (a)(1) The association shall submit to the commissioner a plan of operation and any
amendments thereto necessary or suitable to assure the fair, reasonable, and equitable administration
of the association. The plan of operation and any amendments thereto shall become effective
upon approval in writing by the commissioner. (2) If the association fails to submit a suitable
plan of operation within 180 days following January 1, 1983, or if at any time thereafter
the association fails to submit suitable amendments to the plan, the commissioner shall, after
notice and hearing, adopt and promulgate such reasonable rules as are necessary or advisable
to effectuate the provisions of this chapter. Such rules shall continue in force until modified
by the commissioner or superseded by a plan submitted by the association and approved by the
commissioner. (b) All member insurers shall comply...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-44-10.htm - 3K - Match Info - Similar pages
27-27-17
Section 27-27-17 Domestic mutual insurers - Solicitation of qualifying applications for insurance.
(a) Upon receipt of the commissioner's approval of the bond or deposit as provided in Section
27-27-16 the directors and officers of the proposed domestic mutual insurer may commence solicitation
of such requisite applications for insurance policies as they may accept and may receive deposits
of premiums thereon. (b) All such applications shall be in writing signed by the applicant,
covering subjects of insurance resident, located or to be performed in this state. (c) All
such applications shall provide that: (1) Issuance of the policy is contingent upon the insurer
qualifying for and receiving a certificate of authority; (2) No insurance is in effect unless
and until the certificate of authority has been issued; and (3) The prepaid premium or deposit
and membership or policy fee, if any, shall be refunded in full to the applicant if organization
is not completed and the certificate of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-17.htm - 2K - Match Info - Similar pages
10A-1-8.02
the procedures and by the stockholder vote required by Article 11 of Chapter 2A. If the governing
documents of the corporation provide for approval of a merger by less than all of the corporation's
stockholders, approval of the merger shall constitute corporate action subject to appraisal
rights pursuant to Article 13 of Chapter 2A, as applicable. No merger of a corporation into
a general or limited partnership may be effected without the consent in writing of each stockholder
who will have personal liability with respect to the surviving entity, notwithstanding
any provision in the governing documents of the corporation that is a party to the merger
providing for less than unanimous stockholder approval for the conversion. b. In the case
of a nonprofit corporation that is a party to the merger, a plan of merger must be approved
by all the nonprofit corporation's members entitled to vote thereon, if it is a nonprofit
corporation with members with voting rights, or as otherwise provided...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/10A-1-8.02.htm - 17K - Match Info - Similar pages
22-21-389
Section 22-21-389 Nonprofit corporations organized prior to May 4, 1982. No nonprofit corporation,
organized under the laws of this state prior to May 4, 1982 to operate a dental service plan
in the state or any of the counties thereof, the charter or certificate of incorporation of
which has been approved or consented to by the insurance commissioner prior to May 4, 1982,
shall be required to incorporate or reincorporate as provided herein. However, every such
corporation desiring to operate such a plan shall file with the insurance commissioner its
acceptance of this article within six months from May 4, 1982, and every such corporation
so accepting this article shall continue, shall have all the powers, authority, and exemptions
of this article, and shall be subject to all the provisions hereof except as otherwise provided
herein. At the time of filing its acceptance, each such corporation must demonstrate to the
satisfaction of the department that it is in compliance with the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/22-21-389.htm - 1K - Match Info - Similar pages
27-27-27
Section 27-27-27 Exclusive management and production of business contracts by domestic insurers.
(a) No domestic insurer shall hereafter make any contract whereby any person is granted or
is to enjoy in fact the management of the insurer to the substantial exclusion of its board
of directors or to have the controlling or preemptive right to produce substantially all insurance
business for the insurer, unless the contract is filed with, and approved by, the commissioner.
The contract shall be deemed approved unless disapproved by the commissioner within 20 days
after date of filing, subject to such reasonable extension of time as the commissioner may
require by notice given within such 20 days. Any disapproval shall be delivered to the insurer
in writing, stating the grounds therefor. (b) Any such contract shall provide that any such
manager or producer of its business shall, within 90 days after expiration of each calendar
year, furnish the insurer's board of directors a written...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-27.htm - 2K - 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
27-35-5
Section 27-35-5 Conversion into stock or mutual life insurance company - Ratification or amendment
of articles of incorporation - Filing. (a) The articles of incorporation so adopted or as
so amended, as the case may be, shall be filed with the probate judge as required of domestic
insurers under this title; except, that no bond or solicitation permit shall be required.
(b) At the time of filing of articles of incorporation or amended articles of incorporation
with the commissioner, the society shall likewise file a report of the meeting of its supreme
governing or legislative body referred to in Sections 27-35-3 and 27-35-4, certified by the
presiding officer thereof under the corporate seal, if the society has a corporate seal. (Acts
1927, No. 537, p. 624; Acts 1971, No. 407, p. 707, ยง731.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-35-5.htm - 1K - Match Info - Similar pages
27-27-47
Section 27-27-47 Bulk reinsurance - Domestic stock insurers. (a) A domestic stock insurer may
reinsure all, or substantially all, of its insurance in force or a major class thereof with
another insurer by an agreement of bulk reinsurance, but no such agreement shall become effective
unless filed with the commissioner and approved by him in writing after a hearing thereon.
(b) The commissioner shall approve such agreement within a reasonable time after such filing
unless he finds that it is inequitable to the stockholders of the domestic insurer or would
substantially reduce the protection or service to its policyholders. If the commissioner does
not approve the agreement, he shall so notify the insurer in writing, specifying his reasons
therefor. If the commissioner does not approve or disapprove such agreement and notify the
insurer thereof in writing within 30 days after such filing, it shall conclusively be presumed
that the agreement is approved by the commissioner. (Acts 1971, No....
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-47.htm - 1K - Match Info - Similar pages
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