Code of Alabama
Title 27 - Insurance.
Chapter 27 - Organization and Corporate Procedures of Stock and Mutual Insurers.

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...

Section 27-27-11 - Licensing of Securities Salesmen. - Solicitation for sale of securities under a solicitation permit shall...

Section 27-27-12 - Deposit of Solicitation Permit Funds in Escrow - Requirement. - (a) All funds received in Alabama pursuant to a solicitation...

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 27-27-14 - Solicitation Permit for Subsequent Financing. - (a) No insurer, or insurance holding corporation, or stock corporation...

Section 27-27-15 - Domestic Mutual Insurers - Authorization to Transact Insurance. - (a) When newly organized, a domestic mutual insurer may be...

Section 27-27-16 - Domestic Mutual Insurers - Bond or Deposit in Lieu Thereof. - (a) Before soliciting any applications for insurance required under Section...

Section 27-27-17 - Domestic Mutual Insurers - Solicitation of Qualifying Applications for Insurance. - (a) Upon receipt of the commissioner's approval of the bond...

Section 27-27-18 - Domestic Mutual Insurers - Deposit in Trust of Premiums or Fees on Qualifying Applications. - (a) All sums collected by a domestic mutual corporation as...

Section 27-27-19 - Domestic Mutual Insurers - Failure to Complete Organization. - If the proposed domestic mutual insurer fails to complete its...

Section 27-27-20 - Domestic Mutual Insurers - Authorization to Transact Additional Kinds of Insurance. - A domestic mutual insurer, after being authorized to transact one...

Section 27-27-21 - Domestic Mutual Insurers - Membership. - (a) Each policyholder of a domestic mutual insurer, other than...

Section 27-27-22 - Domestic Mutual Insurers - Bylaws. - (a) A domestic mutual insurer shall have bylaws for the...

Section 27-27-23 - Directors of Domestic Insurers - Number; Election; Qualifications. - (a) The affairs of every domestic insurer shall be managed...

Section 27-27-24 - Directors of Domestic Insurers - Removal; Vacancies. - (a) At a special meeting of stockholders or members called...

Section 27-27-25 - Corrupt or Dishonest Practices in Meeting of Stockholders or Members. - No person shall buy, or sell or barter a vote...

Section 27-27-26 - Pecuniary Interests of Officers, etc., of Domestic Insurers. - (a) No officer or director of a domestic insurer, and...

Section 27-27-27 - Exclusive Management and Production of Business Contracts by Domestic Insurers. - (a) No domestic insurer shall hereafter make any contract whereby...

Section 27-27-28 - Notice of Change of Directors, Etc. - An insurer shall promptly give the commissioner written notice of...

Section 27-27-29 - Principal Place of Business and Home Office of Domestic Insurers; Maintenance of Assets in State; Removal of Records or Assets; Exceptions. - (a) Every domestic insurer shall have, and maintain, its principal...

Section 27-27-30 - Voucher or Other Document for Disbursements. - (a) No insurer shall make any disbursement of $25.00 or...

Section 27-27-31 - Contingent Liability of Members of Domestic Mutual Insurers - Generally. - (a) Each member of a domestic mutual insurer shall, except...

Section 27-27-32 - Contingent Liability of Members of Domestic Mutual Insurers - Levy of Assessments. - (a) If at any time the assets of a domestic...

Section 27-27-33 - Collection of Assessments by Insurers. - (a) Any assessment made by an insurer under Section 27-27-32...

Section 27-27-34 - Nonassessable Policies in Mutual Insurers - Generally. - (a) While possessing surplus funds in amount not less than...

Section 27-27-35 - Nonassessable Policies in Mutual Insurers - Revocation of Domestic Insurers Authority to Issue. - The commissioner shall revoke the authority of a domestic mutual...

Section 27-27-36 - Issuance of Participating or Nonparticipating Policies by Domestic Insurers. - Unless prohibited by its articles of incorporation, a domestic stock...

Section 27-27-37 - Dividends - Domestic Stock Insurers. - (a) A domestic stock insurer shall not pay any cash...

Section 27-27-38 - Dividends - Domestic Mutual Insurers. - (a) The directors of a domestic mutual insurer may, from...

Section 27-27-39 - Dividends - Liability for Illegal Dividends by Domestic Insurers. - (a) Any director of a domestic stock or mutual insurer...

Section 27-27-40 - Loans by Domestic Insurers. - (a) A domestic stock or mutual insurer may borrow money...

Section 27-27-41 - Deficiencies in Stock Insurer's Capital or Assets of Mutual Insurers - Generally. - (a) If a stock insurer's capital, as represented by the...

Section 27-27-42 - Deficiencies in Stock Insurer's Capital or Assets of Mutual Insurers - Curing of Deficiency. - Any insurer receiving the commissioner's notice mentioned in Section 27-27-41:...

Section 27-27-43 - Mutualization of Stock Insurers. - (a) A stock insurer other than a title insurer may...

Section 27-27-44 - Conversion of Mutual Insurer Into Stock Insurer. - (a) A mutual insurer may become a stock insurer under...

Section 27-27-45 - Merger and Consolidations - Domestic Stock Insurers. - (a) A domestic stock insurer may merge or consolidate with...

Section 27-27-46 - Merger and Consolidations - Domestic Mutual Insurers. - (a) A domestic mutual insurer may merge or consolidate with...

Section 27-27-47 - Bulk Reinsurance - Domestic Stock Insurers. - (a) A domestic stock insurer may reinsure all, or substantially...

Section 27-27-48 - Bulk Reinsurance - Domestic Mutual Insurers. - (a) A domestic mutual insurer may reinsure all, or substantially...

Section 27-27-49 - Distribution of Assets Upon Liquidation of Domestic Mutual Insurer. - (a) Upon any liquidation of a domestic mutual insurer, its...

Section 27-27-49.1 - Recovery. - (a) If an order for liquidation or rehabilitation of a...

Section 27-27-50 - Extinguishment and Nullification of Domestic Insurers' Corporate Charter. - (a) The corporate charter of any corporation formed under the...

Section 27-27-51 - Rules and Regulations as to Securities of Domestic Stock Insurers. - The commissioner shall have the power, and it shall be...

Section 27-27-52 - Insider Trading of Domestic Stock Insurer Equity Securities - Short Title. - Sections 27-27-52 through 27-27-60 shall be known as the "Insider...

Section 27-27-53 - Insider Trading of Domestic Stock Insurer Equity Securities - Ownership Statements. - Every person who is, directly or indirectly, the beneficial owner...

Section 27-27-54 - Insider Trading of Domestic Stock Insurer Equity Securities - Recovery of Certain Profits by Company. - For the purpose of preventing the unfair use of information...

Section 27-27-55 - Insider Trading of Domestic Stock Insurer Equity Securities - Unlawful Sales. - It shall be unlawful for any such beneficial owner, director,...

Section 27-27-56 - Insider Trading of Domestic Stock Insurer Equity Securities - Exemptions From Sections 27-27-54 and 27-27-55; Prescription of Terms and Conditions Thereon. - The provisions of Section 27-27-54 shall not apply to any...

Section 27-27-57 - Insider Trading of Domestic Stock Insurer Equity Securities - Applicability of Sections 27-27-53 Through 27-27-55. - The provisions of Sections 27-27-53 through 27-27-55 shall not apply...

Section 27-27-58 - Insider Trading of Domestic Stock Insurer Equity Securities - Equity Securities - Defined. - The term "equity security," when used in this chapter, means...

Section 27-27-59 - Insider Trading of Domestic Stock Insurer Equity Securities - Equity Securities - Applicability of Sections 27-27-53 Through 27-27-55. - The provisions of Sections 27-27-53 through 27-27-55 shall not apply...

Section 27-27-60 - Insider Trading of Domestic Stock Insurer Equity Securities - Rules and Regulations. - The commissioner shall have the power to make such rules...

Section 27-27-61 - Applicability of Corporation Statutes to Domestic Insurers. - The applicable statutes of this state relating to the powers...

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Code of Alabama Title 27 - Insurance. Chapter 27 - Organization and Corporate Procedures of Stock and Mutual Insurers.

Code of Alabama
Title 27 - Insurance.
Chapter 27 - Organization and Corporate Procedures of Stock and Mutual Insurers.