27-27-12
Section 27-27-12 Deposit of solicitation permit funds in escrow - Requirement. (a) All funds
received in Alabama pursuant to a solicitation permit, other than advance premiums for insurance
which are subject to Section 27-27-18, shall, by the permit holder, be deposited and held
in escrow in a bank or trust company located in this state under an agreement approved by
the commissioner. (b) No part of such funds shall be withdrawn from such deposit, except:
(1) For the payment of promotion, sales, and organization expenses as authorized by the solicitation
permit, and funds for such purposes may be withheld from the deposit; (2) For the purpose
of making any deposit with the commissioner required for the issuance of a certificate of
authority to an insurer; (3) If the proposed organization is not to be an insurer, upon completion
of payments on securities subscriptions made under the solicitation permit and deposit or
appropriation of such funds to the purposes specified in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-12.htm - 1K - Match Info - Similar pages

27-27-5
Section 27-27-5 Solicitation permit - Application. To apply for a solicitation permit, the
person shall: (1) File with the commissioner a request therefor showing: a. Name, type and
purpose of insurer, corporation, syndicate, association, firm, partnership, or organization
formed or proposed to be formed; b. Names, addresses, business background, and qualifications
of each person associated, or to be associated, in the enterprise or in the formation of the
proposed insurer, corporation, syndicate, association, firm, partnership, or organization;
c. Full disclosure of the terms of all pertinent understandings and agreements existing or
proposed among persons so associated; and copies of all such agreements, relative to the proposed
financing of the insurer, corporation, syndicate, association, firm, partnership, or organization,
or the formation thereof; d. The plan according to which solicitations are to be made; and
e. Such additional information as the commissioner may reasonably...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-5.htm - 3K - Match Info - Similar pages

27-27-7
Section 27-27-7 Solicitation permit - Issuance; contents; compliance with terms. (a) Upon the
filing of any bond required by Sections 27-27-10 or 27-27-16, after notice by the commissioner
provided for in subsection (a) of Section 27-27-6, or upon his decision to grant a solicitation
permit if such a bond is not so required, the commissioner shall issue to the applicant or
to the newly formed corporation, if the application is on behalf of a newly formed incorporated
domestic insurer, a solicitation permit. Every solicitation permit issued by the commissioner
shall contain provisions in substance as follows: (1) State the securities or other rights
or interests for which subscriptions are to be solicited, the number, classes, par value,
and selling price thereof, or identify the insurance contract, or contracts, for which applications
and advance premiums or deposits of premium are to be solicited in the case of mutual or reciprocal
insurers; (2) Require that any particular class of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-7.htm - 5K - Match Info - Similar pages

6-12A-3
Section 6-12A-3 Tobacco product manufacturer certification; directory; stamping, sale, or import
of cigarettes not in directory. (a) Certification. Every tobacco product manufacturer whose
cigarettes are sold in this state whether directly or through a distributor, retailer, or
similar intermediary or intermediaries shall execute and deliver on a form prescribed by the
commissioner, a certification to the commissioner no later than the thirtieth day of April
each year, certifying that, as of the date of the certification, the tobacco product manufacturer
either: Is a participating manufacturer or is in full compliance with Section 6-12-3, including
all quarterly installment payments required by subsection (e) of Section 6-12A-5. (1) Each
participating manufacturer shall include in its certification a list of its brand families.
The participating manufacturer shall update its list 30 days prior to any addition or modification
to its brand families by executing and delivering a...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/6-12A-3.htm - 8K - Match Info - Similar pages

27-29-3
Section 27-29-3 Acquisition of control of, or merger with, domestic insurers. (a)(1) No person
other than the issuer shall make a tender offer for or a request or invitation for tenders
of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in
the open market any voting security of a domestic insurer if, after the consummation thereof,
such person would, directly or indirectly, or by conversion or by exercise of any right to
acquire, be in control of such insurer, and no person shall enter into an agreement to merge
with or otherwise to acquire control of a domestic insurer, or any person controlling a domestic
insurer unless, at the time any such offer, request, or invitation is made or any such agreement
is entered into, or prior to the acquisition of such securities if no offer or agreement is
involved such person has filed with the commissioner and has sent to such insurer a statement
containing the information required by this section and such...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-29-3.htm - 17K - Match Info - Similar pages

8-32-3
Section 8-32-3 Requirements for selling or offering to sell service contracts. (a) Either the
provider or its designee shall: (1) Provide a receipt for, or other written evidence of, the
purchase of the service contract to the contract holder. (2) Provide a copy of the service
contract to the service contract holder within a reasonable period of time from the date of
purchase. (b) A provider may, but is not required to, appoint an administrator or other designee
to be responsible for any or all of the administration of service contracts and compliance
with this chapter. (c) Each provider of service contracts sold in this state shall file a
registration with the commissioner on a form prescribed by the commissioner. Each provider
shall pay to the commissioner a fee in the amount of two hundred dollars ($200) annually.
All fees collected shall be paid into a special revolving fund to be set up by the State Treasurer
referred to as the "Service Contract Revolving Fund." The Service...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-3.htm - 8K - Match Info - Similar pages

27-27-13
Section 27-27-13 Deposit of solicitation permit funds in escrow - Withdrawal and refund. The
commissioner shall withdraw all funds held in escrow under Section 27-27-12, and refund to
securities subscribers or purchasers all sums paid in on securities subscriptions, less that
part of such sums paid in as has been allowed and used for promotion, sales, and organization
expenses, and shall dissolve the proposed domestic insurer, corporation, syndicate, or organization
if: (1) It fails to complete its organization or financing and obtain full payment for subscriptions
and, if to be an insurer, it fails to secure its certificate of authority, all before expiration
of the solicitation permit; or (2) The commissioner revokes the solicitation permit. (Acts
1971, No. 407, p. 707, §509.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-13.htm - 1K - Match Info - Similar pages

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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/5-5A-44.htm - 11K - Match Info - Similar pages

25-4-51
Section 25-4-51 Rates of contributions, etc., by employers. (a) Contributions. Except as hereinafter
provided and subject to the provisions of Section 25-4-54, every employer shall pay contributions,
or payments in lieu of contributions, equal to the percentages of wages payable or paid as
hereinafter set out, with respect to employment by him. (1) With respect to employment during
calendar years after December 31, 1975, every employer who has been liable to the provisions
of this chapter during a period of time sufficient to have his rate of contribution determined
under the experience rating provisions of Section 25-4-54 shall pay contributions at the rate
prescribed thereby. (2) With respect to employment after December 31, 1975, every employer
who has not been liable to the provisions of this chapter for a sufficient length of time
to have his rate determined under the experience rating provisions of Section 25-4-54 shall
pay contributions at the rate of 2.70 percent of such wages...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/25-4-51.htm - 33K - Match Info - Similar pages

27-27-10
Section 27-27-10 Solicitation permit - Bond or deposit in lieu thereof; waiver of same. (a)
Except as to proposed domestic insurers which are subject to the requirements of Section 27-27-16,
the commissioner shall not issue a solicitation permit until the applicant therefor has filed
with him a corporate surety bond in the penalty of $15,000.00 in favor of the State of Alabama
and for the use and benefit of the state and of proposed Alabama investors in and creditors
of the proposed organization. (b) The bond shall be conditioned upon the payment of costs
incurred by the state in event of any legal proceedings for liquidation or dissolution of
the proposed organization before completion of organization or in event a certificate of authority
is not granted and upon a full accounting for funds received until the proposed insurer has
been granted its certificate of authority or until the proposed corporation, syndicate, organization,
or financing has been completed as defined in the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-27-10.htm - 2K - Match Info - Similar pages