(a) After January 1, 1973, no unincorporated or voluntary association shall be permitted to transact business in this state as a fraternal benefit society.
(b) Any domestic voluntary association now authorized to transact business in this state may incorporate and shall receive from the commissioner a permanent certificate of incorporation as a fraternal benefit society when:
(1) It has completed its conversion to an incorporated society not later than January 1, 1974;
(2) It has filed its articles of incorporation and has satisfied the other requirements described in Sections 27-34-9 through 27-34-13; and
(3) The commissioner has made such examination and procured whatever additional information he deems advisable.
(c) Every voluntary association so incorporated shall incur the obligations and enjoy the benefits thereof the same as though originally incorporated, and such corporation shall be deemed a continuation of the original voluntary association. The officers thereof shall serve through their respective terms as provided in its original articles of association, but their successors shall be elected and serve as provided in its articles of incorporation. Incorporation of a voluntary association shall not affect existing actions, claims, or contracts.
Structure Code of Alabama
Chapter 34 - Fraternal Benefit Societies.
Section 27-34-1 - Definitions.
Section 27-34-2 - Societies Deemed Operating on Lodge System.
Section 27-34-3 - When Society Deemed as Having Representative Form of Government.
Section 27-34-4 - Applicability of Chapter - Generally.
Section 27-34-5 - Applicability of Chapter - Exceptions.
Section 27-34-6 - License - Requirement; Renewal; Fee; Evidence.
Section 27-34-7 - License - Foreign or Alien Societies - Application; Qualifications.
Section 27-34-8 - License - Foreign or Alien Societies - Suspension, Revocation, or Refusal.
Section 27-34-9 - Articles of Incorporation - Contents.
Section 27-34-11 - Preliminary Certificate - Time to Complete Organization.
Section 27-34-12 - Preliminary Certificate - Initial Solicitations and Qualifications.
Section 27-34-13 - Certificate of Compliance.
Section 27-34-14 - Constitution and Laws; Powers.
Section 27-34-15 - Existing Incorporated Societies.
Section 27-34-16 - Incorporation of Existing Unincorporated Domestic Voluntary Associations.
Section 27-34-17 - Amendment of Articles of Incorporation, Constitution, or Laws.
Section 27-34-18 - Waiver of Societies' Laws and Constitution.
Section 27-34-20 - Creation, etc., of Charitable, Benevolent, or Educational Institutions.
Section 27-34-21 - Members - Qualifications for Membership.
Section 27-34-22 - Members - Payment of Equitable Part of Deficiency.
Section 27-34-23 - Benefits - Generally.
Section 27-34-24 - Benefits - Lives of Children.
Section 27-34-26 - Beneficiaries.
Section 27-34-27 - Exemption of Benefits, etc., From Attachment, Garnishment, or Other Process.
Section 27-34-28 - Personal Liability for Payment of Benefits.
Section 27-34-29 - Issuance of Certificate to Each Benefit Member; Matters Constituting Agreement.
Section 27-34-30 - Life Benefit Certificate - Filing With Commissioner; Standard Provisions.
Section 27-34-31 - Life Benefit Certificate - Prohibited Provisions.
Section 27-34-32 - Accident or Health and Total or Permanent Disability Insurance Contracts.
Section 27-34-33 - Reinsurance.
Section 27-34-34 - Assets; Funds; Expenses.
Section 27-34-35 - Investments.
Section 27-34-36 - Annual Statements - Requirements.
Section 27-34-37 - Annual Statements - Valuation of Certificates; Reserves.
Section 27-34-38 - Annual Statements - Failure to File.
Section 27-34-39 - Examinations - Domestic Societies.
Section 27-34-40 - Examinations - Foreign and Alien Societies.
Section 27-34-41 - Examinations - Publication of Financial Statement, Report, or Finding.
Section 27-34-42 - Exemption From Taxation.
Section 27-34-43 - Applicability of Chapters 7 and 8a.
Section 27-34-44 - Agents - Solicitation Without License.
Section 27-34-45 - Misrepresentations.
Section 27-34-46 - Discrimination, Inducements, and Rebates.
Section 27-34-47 - Service of Process.
Section 27-34-48 - Consolidation or Merger - Procedure.
Section 27-34-49 - Consolidation or Merger - Effect.
Section 27-34-50 - Actions to Enjoin or in Quo Warranto; Liquidation; Receivership.
Section 27-34-51 - Applications for Injunctions.
Section 27-34-52 - Review of Decisions and Findings of Commissioner.