Section 27-28-1 Plan for exchange of stock, etc., between domestic stock insurer and holding company – Authority. A domestic stock insurance company, hereinafter referred to in this chapter as “domestic company,” may cause a corporation to be organized under the laws of this state or any other state of the United States of America to […]
Section 27-28-2 Plan for exchange of stock, etc., between domestic stock insurer and holding company – Procedure for exchange. A plan of exchange shall be adopted and become effective in the following manner: (1) APPROVAL OF THE BOARDS OF DIRECTORS. – The boards of directors of each corporate party to the plan of exchange by […]
Section 27-28-3 Plan for exchange of stock, etc., between domestic stock insurer and holding company – Fees, etc., for promotion of plan. No director, officer, agent, or employee of any corporation which is a party to the plan of exchange, except as is expressly provided by the plan filed with the commissioner, shall receive any […]
Section 27-28-4 Effect of chapter on powers of commissioner and authority to engage in insurance business. Nothing contained in this chapter shall affect the power of the commissioner to regulate, supervise, and control insurance companies pursuant to the laws of the State of Alabama governing such companies, nor shall anything in this chapter be construed […]
Section 27-28-5 Applicability of Alabama Business Corporation Act. This chapter shall be supplemental to, and construed with, the provisions of the Alabama Business Corporation Act, as amended, but in the event there exists any conflict between the provisions of this chapter and the provisions of that act, the provisions of this chapter shall control. (Acts […]
