reglab/statecodes huggingface dataset:
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.07 - Requirements As To Proxy

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The
			 form of proxy (a) shall indicate in bold face type whether or not the proxy is
			 solicited on behalf of the insurers board of directors, and, if not, by whom it
			 is solicited, (b) shall provide a specifically designated blank space for
			 dating the proxy and (c) shall identify clearly and impartially each matter or
			 group of related matters intended to be acted upon, whether proposed by the
			 issuer or by security holders. No reference need be made to proposals as to
			 which discretionary authority is conferred pursuant to Rule
			 482-1-042-.07(3).
(2)
(a)
			 Means shall be provided in the form of proxy whereby the person solicited is
			 afforded an opportunity to specify by ballot a choice between approval or
			 disapproval of, or abstention with respect to, each matter or group of related
			 matters referred to therein as intended to be acted upon, other than elections
			 to office. A proxy may confer discretionary authority with respect to matters
			 as to which a choice is not so specified provided the form of proxy states in
			 bold face type how it is intended to vote the shares represented by the proxy
			 in each such case.
(b) A form of
			 proxy which provides both for the election of directors and for action on other
			 specified matters shall be prepared so as clearly to provide, by a box or
			 otherwise, means by which the security holder may withhold authority to vote
			 for any nominee for election as a director. Any such form of proxy which is
			 executed by the security holder in such manner as not to withhold authority to
			 vote for the election of all nominees shall be deemed to grant such authority
			 for all nominees for which a vote is not withheld, provided the form of proxy
			 so states in bold face type.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.08 - Presentation Of Information In Proxy Statement

Current through Register Vol. 42, No. 9, June 28, 2024
(1) The information included in the proxy
			 statement shall be clearly presented and the statements made shall be divided
			 into groups according to subject matter and the various groups of statements
			 shall be preceded by appropriate headings.
(2) All proxy statements shall disclose,
			 under an appropriate caption, the date by which proposals of security holders
			 intended to be presented at the next annual meeting must be received by the
			 issuer for inclusion in the issuer's proxy statement and form of proxy relating
			 to that meeting, such date to be calculated in accordance with the provisions
			 of Rule 482-1-042-.11(1).
			 If the date of the next annual meeting is subsequently advanced by more than 30
			 calendar days or delayed by more than 90 calendar days from the date of the
			 annual meeting to which the proxy statement relates, the issuer shall, in a
			 timely manner, inform security holders of such change, and the date by which
			 proposals of security holders must be received, by any means reasonably
			 calculated to so inform them.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.09 - Material Required To Be Filed

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 Two preliminary copies of the proxy statement and form of proxy and any other
			 soliciting material to be furnished to security holders concurrently therewith
			 (or the information statement pursuant to Schedule C) shall be filed with the
			 Commissioner at least 10 days prior to the date definitive copies of such
			 material are first sent or given to security holders, or such shorter period
			 prior to that date as the Commissioner may authorize upon a showing of good
			 cause therefor.
(2) Two preliminary
			 copies of any additional soliciting material relating to the same meeting or
			 subject matter to be furnished to security holders subsequent to the proxy
			 statement shall be filed with the Commissioner at least two days (exclusive of
			 Saturdays, Sundays and holidays) prior to the date copies of such material are
			 first sent or given to security holders, or such shorter period prior to such
			 date as the Commissioner may authorize upon a showing of good cause
			 therefor.
(3) Two definitive copies
			 of the proxy statement, form of proxy and all other soliciting material (or the
			 information statement) in the form in which such material is furnished to
			 security holders, shall be filed with, or mailed for filing to, the Commission
			 no later than the date such material is first sent or given to any security
			 holder.
(4) Copies of replies to
			 inquiries from security holders requesting further information and copies of
			 communications which do no more than request that forms of proxy theretofore
			 solicited be signed and returned need not be filed pursuant to this
			 rule.
(5) Notwithstanding the
			 provisions of paragraphs (1) and (2) of this rule and of paragraph (5) of Rule
			 482-1-042-.14, copies of
			 soliciting material in the form of speeches, press releases and radio or
			 television scripts may, but need not, be filed with the Commissioner prior to
			 use or publication. Definitive copies, however, shall be filed with or mailed
			 for filing to the Commissioner as required by Rule
			 482-1-042-.09(3)
			 not later than the date such material is used or published. The provisions of
			 paragraph (1) and (2) of this rule and of paragraph (5) of Rule
			 482-1-042-.14 shall apply,
			 however, to any reprints or reproductions of all or any part of such
			 material.
(6) Where any proxy
			 statement, form of proxy or other material filed pursuant to this chapter is
			 amended or revised, one of the copies of such amended or revised material filed
			 pursuant to this chapter shall be marked to indicate clearly and precisely the
			 changes effected therein.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.10 - Mailing Communications For Security Holders

Current through Register Vol. 42, No. 9, June 28, 2024
If the management of the issuer has made or intends to make any
				solicitation subject to this chapter, the issuer shall perform such of the
				following acts as may be duly requested in writing with respect to the same
				subject matter or meeting by any security holder who is, or security holders
				who are, entitled to vote at least one percent of the votes entitled to be
				voted on such matter and who shall defray the reasonable expenses to be
				incurred by the issuer in the performance of the act or acts requested.
(a) The issuer shall mail or otherwise
			 furnish to such security holder, as promptly as practicable after the receipt
			 of such request:
1. A statement of the
			 approximate number of record owners and, to the extent known to the issuer, the
			 approximate number of beneficial owners of any class of securities, any of whom
			 have been or are to be solicited on behalf of the management, or any group of
			 whom the security holder shall designate:
2. An estimate of the cost of mailing a
			 specified proxy statement, form of proxy or other communications to such
			 owners.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.11 - Proposals Of Security Holders

Current through Register Vol. 42, No. 9, June 28, 2024
(1)
			 If any holder or holders of the securities of an issuer (hereafter referred to
			 as the "proponent") notifies the issuer in writing not less than 90 days before
			 the issuer's annual meeting of his intention to present a lawful proposal for
			 action at a forthcoming meeting of the issuer's security holders and at the
			 time of such notice the proponent is entitled to vote at least one percent of
			 the votes entitled to be voted on such proposal, the issuer shall set forth the
			 proposal in its proxy statement and identify it in its form of proxy and
			 provide for the specification of approval or disapproval of such proposal. The
			 proxy statement shall also include the name and address of the
			 proponent.
(2) If the issuer
			 opposes any proposal received from a proponent, it shall also, at the request
			 of the proponent, include in its proxy statement a statement of the proponent
			 of not more than 200 words in support of the proposal.
(3) The issuer may omit a proposal and any
			 statement in support thereof from its proxy statement and form of proxy under
			 any of the following circumstances:
(a) The
			 proponent has submitted more than one proposal in connection with a particular
			 meeting.
(b) The proposal is more
			 than 300 words in length.
(c) The
			 proposal or the supporting statement is contrary to any rule of this chapter or
			 the schedules hereto, including Rule
			 482-1-042-.12 which prohibits
			 false or misleading statements in proxy soliciting materials.
(d) The proposal relates to the enforcement
			 of a personal claim or the redress of a personal grievance against the issuer,
			 its management, or any other person.
(e) The proposal deals with a matter not
			 significantly related to the issuer's business; a matter beyond the issuer's
			 power to effectuate; a matter relating to the conduct of the ordinary business
			 operations of the issuer; or an election to office.
(f) The proposal is counter to a proposal to
			 be submitted by the issuer at the meeting; the proposal has been rendered moot;
			 or the proposal relates to specific amounts of cash or stock
			 dividends.
(g) The proposal is
			 substantially duplicative of a proposal previously submitted to the issuer by
			 another proponent, which proposal will be included in the management's proxy
			 material for the meeting.
(h)
			 Substantially the same proposal has previously been submitted to security
			 holders in the issuer's proxy statement and form of proxy relating to any
			 annual or special meeting of security holders held within the preceding five
			 calendar years, and received less than five percent of the total number of
			 votes cast in respect thereof at the time of its most recent
			 submission.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.12 - False Or Misleading Statements

Current through Register Vol. 42, No. 9, June 28, 2024
No proxy statement, form of proxy, notice of meeting,
				information statement, or other communication, written or oral, subject to this
				chapter shall contain any statement which, at the time and in the light of the
				circumstances under which it is made, is false or misleading with respect to
				any material fact, or which omits to state any material fact necessary in order
				to make the statements therein not false or misleading or necessary to correct
				any statement in any earlier communication with respect to the same meeting or
				subject matter which has become false or misleading.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.13 - Prohibition Of Certain Solicitations

Current through Register Vol. 42, No. 9, June 28, 2024
No person making a solicitation which is subject to this
				chapter shall solicit any undated or postdated proxy or any proxy which
				provides that it shall be deemed to be dated as of any date subsequent to the
				date on which it is signed by the security holder.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.14 - Special Provisions Applicable To Election Contests

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Solicitations to Which This Rule Applies.
			 This rule applies to any solicitation subject to this chapter by any person or
			 group for the purpose of opposing a solicitation subject to this chapter by any
			 other person or group with respect to the election or removal of directors at
			 any annual or special meeting of security holders.
(2) Participant or Participant in a
			 Solicitation.
(a) For purposes of this rule
			 the terms "participant" and "participant in a solicitation" include:
(i) the issuer;
(ii) any director of the issuer, and any
			 nominee for whose election as a director proxies are solicited;
(iii) any other person, acting alone or with
			 one or more other persons, committees or groups, in organizing, directing or
			 financing the solicitation.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.15 - Solicitations And Materials Complying With NAIC Model Regulation And Schedules

Current through Register Vol. 42, No. 9, June 28, 2024
Notwithstanding the foregoing rules, the Commissioner may
				permit the solicitation of proxies, consents, or authorizations, provided that
				the manner of solicitation and the form of proxy, proxy statement and other
				documents used in such solicitation comply with the National Association of
				Insurance Commissioner's Model Regulation and the Schedules thereto.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-042 - PROXIES, CONSENTS AND AUTHORIZATIONS OF DOMESTIC STOCK INSURERS › Section 482-1-042-.16 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall be effective on or after June 1, 1981, and
				will supersede Departmental Regulation No. 42, effective October 15,
				1969.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-7,
				  27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Section
				27-2-17,
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to govern the writing of
				mortgage guaranty insurance in this State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.03 - Definition

Current through Register Vol. 42, No. 9, June 28, 2024
Mortgage guaranty insurance is insurance for the protection of
				mortgage lenders against loss by reason of non-payment of mortgage indebtedness
				by the borrower. This class of insurance may be transacted by an insurer
				holding a subsisting Certificate of Authority for the transaction of casualty
				insurance as defined in this Section
				27-5-6,
Code of Ala.
				1975
. Pursuant to Section
				27-3-26,
Code of Ala.
				1975
, all companies holding a subsisting Certificate of Authority
				shall annually on or before March 1 file with the Commissioner a statement of
				its financial condition, transactions and affairs as of the December 31
				preceding. Said statement shall be the National Association of Insurance
				Commissioners Annual Statement Blank as adopted pursuant to Chapter 482-1-097
				of the Alabama Administrative Code. Mortgage guaranty insurance of the company
				shall be recorded and reported therein in accordance with the provisions of the
				National Association of Insurance Commissioners Statements of Statutory
				Accounting Principles No. 58.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.04 - Limitations

Current through Register Vol. 42, No. 9, June 28, 2024
In addition to laws or regulations otherwise applicable,
				mortgage guaranty insurers shall be subject to the following
				limitations:
(a) No insurer shall
			 retain risk as to any one subject of insurance in any amount exceeding ten (10)
			 percent of its surplus as to regards policyholders. In determining the amount
			 of risk retained, applicable reinsurance in any assuming insurer authorized in
			 this State via a subsisting Certificate of Authority or approved by the
			 Commissioner shall pursuant to Section
			 27-5-12,
Code of Ala.
			 1975
, may be deducted from the total direct risk
			 insured.
(b) The real estate loan
			 secured by a mortgage deed of trust or other instrument constituting a first
			 lien or charge on real estate is one which a bank, savings and loan
			 association, mortgage company, or an insurance company is authorized to make.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.05 - Contingency Reserve

Current through Register Vol. 42, No. 9, June 28, 2024
In addition to the customary unearned premium reserve required
				of casualty insurers pursuant to Section
				27-36-3,
Code of Ala.
				1975
, each mortgage guaranty insurer shall establish a contingency
				reserve which shall be maintained for ten (10) years for the purpose of
				protecting against the effect of adverse economic cycles in accordance with
				Statutory Accounting Principle No. 58 adopted pursuant to Alabama Insurance
				Regulation, Chapter 482-1-097.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.06 - Rates

Current through Register Vol. 42, No. 9, June 28, 2024
Mortgage guaranty insurance shall be subject to the rate filing
				requirements of Section
				27-13-1,
et
seq
.,
Code of
				Ala. 1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.07 - Forms

Current through Register Vol. 42, No. 9, June 28, 2024
All policy forms and endorsements shall be filed with and be
				subject to the approval of the Commissioner pursuant to Section
				27-14-8,
Code of Ala.
				1975
. With respect to owner-occupied single family dwellings, the
				mortgage insurance policy shall provide that the borrower shall not be liable
				to the insurance company for any deficiency arising from a foreclosure
				sale.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.08 - Producers

Current through Register Vol. 42, No. 9, June 28, 2024
Producers of mortgage guaranty insurers shall be licensed,
				pursuant to Section
				27-7-1
et
seq
.,
Code of Ala. 1975
, and
				be subject to the same qualifications and requirements as apply to producers of
				general casualty insurance.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.09 - Severability

Current through Register Vol. 42, No. 9, June 28, 2024
If a court holds any paragraph or portion of a paragraph of
				this chapter or the applicability thereof to any person or circumstance
				invalid, the remainder of the chapter shall not be affected thereby.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-043 - MORTGAGE GUARANTY INSURANCE › Section 482-1-043-.10 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter shall be effective upon its approval by the
				Commissioner of Insurance, and upon its having been on file as a public
				document in the office of the Secretary of State for ten days.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-046 - (REPEALED) › Section 482-1-046 - Repealed

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Reyn Norman, Associate
				Counsel
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-052 - ALABAMA INSURANCE UNDERWRITING ASSOCIATION (REPEALED) › Section 482-1-052-.01 - Authority (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-052 - ALABAMA INSURANCE UNDERWRITING ASSOCIATION (REPEALED) › Section 482-1-052-.02 - Purpose (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-052 - ALABAMA INSURANCE UNDERWRITING ASSOCIATION (REPEALED) › Section 482-1-052-.03 - Effective Date (Repealed)

Current through Register Vol. 42, No. 9, June 28, 2024
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-054 - NOTIFICATION OF ACTIONS AGAINST INSURANCE COMPANIES, INSURANCE PRODUCERS, AND OTHER LICENSED ENTITIES › Section 482-1-054-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Section
				27-2-17,
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-054 - NOTIFICATION OF ACTIONS AGAINST INSURANCE COMPANIES, INSURANCE PRODUCERS, AND OTHER LICENSED ENTITIES › Section 482-1-054-.02 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following definitions shall apply for purposes of this
				chapter:
(a) Breach of trust. A
			 wrongful act, use, misappropriation or omission with respect to any property or
			 fund which has been committed to a person in a fiduciary or official capacity,
			 or the misuse of one's official or fiduciary position to engage in a wrongful
			 act, use, misappropriation or omission.
(b) Dishonesty. Directly or indirectly, to
			 cheat or defraud; to cheat or defraud for monetary gain or its equivalent; or
			 wrongfully to take property belonging to another in violation of any criminal
			 statute. Dishonesty includes acts involving want of integrity, lack of probity,
			 or a disposition to distort, cheat, or act deceitfully or fraudulently, and may
			 include crimes which federal, state or local laws define as
			 dishonest.
(c) Domestic Insurer.
			 Any insurance company or insurer domiciled in the State of Alabama.
(d) Licensee. Any insurance company, insurer,
			 managing general agent, producer, service representative, adjuster, surplus
			 line broker and any other company, corporation, partnership, limited liability
			 company, association or person licensed to transact the business of insurance
			 in this state.
(e) Producer. Any
			 producer, service representative, adjuster, or surplus line broker licensed in
			 this state.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-054 - NOTIFICATION OF ACTIONS AGAINST INSURANCE COMPANIES, INSURANCE PRODUCERS, AND OTHER LICENSED ENTITIES › Section 482-1-054-.04 - Confidentiality Of Information

Current through Register Vol. 42, No. 9, June 28, 2024
The information to be filed in accordance with this chapter is
				considered to be part of an investigation and examination of the licensee in
				accordance with Sections
				27-2-19,
et
seq
.,
Code of
				Ala. 1975
. In accordance with Chapter 482-1-104, this information
				will be considered confidential and will not be available for public
				review.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-054 - NOTIFICATION OF ACTIONS AGAINST INSURANCE COMPANIES, INSURANCE PRODUCERS, AND OTHER LICENSED ENTITIES › Section 482-1-054-.05 - Effective Date

Current through Register Vol. 42, No. 9, June 28, 2024
The provisions of this chapter shall become effective upon its
				approval by the Commissioner of Insurance and upon its having been on file as a
				public document in the office of the Secretary of State for ten (10)
				days.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §
										27-2-17.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.01 - Authority

Current through Register Vol. 42, No. 9, June 28, 2024
This chapter is promulgated by the Commissioner of Insurance
				pursuant to Alabama Code Sections
				27-2-17 and
				27-29-8,
Code of Ala.
				1975
.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.02 - Purpose

Current through Register Vol. 42, No. 9, June 28, 2024
The purpose of this chapter is to set forth rules and
				procedural requirements which the Commissioner deems necessary to carry out the
				provisions of the Alabama Insurance Holding Company System Regulatory Act,
				Sections 27-29-1,
et
seq
.,
Code of
				Ala. 1975
, hereinafter referred to as "the Act." The information
				called for by this chapter is hereby declared to be necessary and appropriate
				in the public interest and for the protection of the policyholders in this
				State.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.03 - Severability Clause

Current through Register Vol. 42, No. 9, June 28, 2024
If any provision of this chapter, or the application thereof to
				any person or circumstance, is held invalid, such determination shall not
				affect other provisions or applications of this chapter which can be given
				effect without the invalid provision or application, and to that end the
				provisions of this regulation are severable.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.04 - Forms - General Requirements

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Forms A, B, C and D are intended to be
			 guides in the preparation of the statements required by Sections
			 27-29-3,
			 27-29-4, and
			 27-29-5. They are not intended to
			 be blank forms which are to be filled in. The statements filed shall contain
			 the numbers and captions of all items, but the text of the items may be omitted
			 provided the answers thereto are prepared in such a manner as to indicate
			 clearly the scope and coverage of the items. All instructions, whether
			 appearing under the items of the form or elsewhere therein, are to be omitted.
			 Unless expressly provided otherwise, if any item is inapplicable or the answer
			 thereto is in the negative, an appropriate statement to that effect shall be
			 made.
(2) Three (3) complete copies
			 of each statement including exhibits and all other papers and documents filed
			 as a part thereof, (except only one (1) copy of the Form B should be filed with
			 the financial division) shall be filed with the Commissioner by personal
			 delivery or mail addressed to: Insurance Commissioner of the State of Alabama,
			 Attention Legal Division. A copy of Form C shall be filed in each state in
			 which an insurer is authorized to do business, if the Commissioner of that
			 state has notified the insurer of its request in writing, in which case the
			 insurer has fifteen (15) days from receipt of the notice to file such form. At
			 least one of the copies shall be manually signed in the manner prescribed on
			 the form. Unsigned copies shall be conformed. If the signature of any person is
			 affixed pursuant to a power of attorney or other similar authority, a copy of
			 the power of attorney or other authority shall also be filed with the
			 statement.
(3) Statements should be
			 prepared on paper 8 1\2" x 11" in size and preferably bound at the top or the
			 top left-hand corner. Exhibits and financial statements, unless specifically
			 prepared for the filing, may be submitted in their original size. All copies of
			 any statement, financial statements or exhibits shall be clear, easily readable
			 and suitable for photocopying. Debits in credit categories and credits in debit
			 categories shall be designated so as to be clearly distinguishable as such on
			 photocopies. Statements shall be in the English language and monetary values
			 shall be stated in United States currency. If any exhibit or other paper or
			 document filed with the statement is in a foreign language, it shall be
			 accompanied by a translation into the English language and any monetary value
			 shown in a foreign currency normally shall be converted into United States
			 currency.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.05 - Forms - Incorporation By Reference, Summaries And Omissions

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Information
			 required by any item of Form A, Form B, Form D, Form E or Form F may be
			 incorporated by reference in answer or partial answer to any other item.
			 Information contained in any financial statement, annual report, proxy
			 statement, statement filed with a governmental authority, or any other document
			 may be incorporated by reference in answer or partial answer to any item of
			 Form A, Form B, Form D, Form E, or Form F provided the document is filed as an
			 exhibit to the statement. Excerpts of documents may be filed as exhibits if the
			 documents are extensive. Documents currently on file with the Commissioner
			 which were filed within three (3) years need not be attached as exhibits.
			 References to information contained in exhibits or in documents already on file
			 shall clearly identify the material and shall specifically indicate that such
			 material is to be incorporated by reference in answer to the item. Matter shall
			 not be incorporated by reference in any case where the incorporation would
			 render the statement incomplete, unclear or confusing.
(2) Where an item requires a summary or
			 outline of the provisions of any document, only a brief statement shall be made
			 as to the pertinent provisions of the document. In addition to the statement,
			 the summary or outline may incorporate by reference particular parts of any
			 exhibit or document currently on file with the Commissioner which was filed
			 within three (3) years and may be qualified in its entirety by such reference.
			 In any case where two (2) or more documents required to be filed as exhibits
			 are substantially identical in all material respects except as to the parties
			 thereto, the dates of execution, or other details, a copy of only one of the
			 documents need be filed with a schedule identifying the omitted documents and
			 setting forth the material details in which the documents differ from the
			 documents, a copy of which is filed.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.06 - Forms - Information Unknown Or Unavailable And Extension Of Time To Furnish

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Information
			 required need be given only insofar as it is known or reasonably available to
			 the person filing the statement. If any required information is unknown and not
			 reasonably available to the person filing, either because the obtaining thereof
			 would involve unreasonable effort or expense, or because it rests peculiarly
			 within the knowledge of another person not affiliated with the person filing,
			 the information may be omitted, subject to the following conditions:
(a) The person filing shall give such
			 information on the subject as it possesses or can acquire without unreasonable
			 effort or expense, together with the sources thereof.
(b) The person filing shall include a
			 statement either showing that unreasonable effort or expense would be involved
			 or indicating the absence of any affiliation with the person within whose
			 knowledge the information rests and stating the result of a request made to
			 such person for the information.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.07 - Forms - Additional Information And Exhibits

Current through Register Vol. 42, No. 9, June 28, 2024
In addition to the information expressly required to be
				included in Form A, Form B, Form C, Form D, Form E, and Form F, the
				Commissioner may request such further material information, if any, as may be
				necessary to make the information contained therein not misleading. The person
				filing may also file such exhibits as it may desire in addition to those
				expressly required by the statement. The exhibits shall be so marked as to
				indicate clearly the subject matters to which they refer. Changes to Forms A,
				B, C, D, E, or F shall include on the top of the cover page the phrase: "Change
				No. (insert number) to" and shall indicate the date of the change and not the
				date of the original filing.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.08 - Definitions

Current through Register Vol. 42, No. 9, June 28, 2024
The following definitions shall apply for purposes of this
				chapter:
(1) EXECUTIVE OFFICER. Chief
			 executive officer, chief operating officer, chief financial officer, treasurer,
			 secretary, controller, and any other individual performing functions
			 corresponding to those performed by the foregoing officers under whatever
			 title.
(2) ULTIMATE CONTROLLING
			 PERSON. That person which is not controlled by any other person.
(3) Unless the context otherwise requires,
			 other terms found in these regulations and in Section
			 27-29-1 are used as defined in the
			 Act. Other nomenclature or terminology is according to the Insurance Code, or
			 industry usage if not defined by the Code.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.09 - Subsidiaries Of Domestic Insurers

Current through Register Vol. 42, No. 9, June 28, 2024
The authority to invest in subsidiaries under subsection (b) of
				Section 27-29-2 is in addition to any
				authority to invest in subsidiaries which may be contained in any other
				provision of the Insurance Code.
Author:
Commissioner of
				Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.10 - Acquisition Of Control - Statement Filing

Current through Register Vol. 42, No. 9, June 28, 2024
A person required to file a statement pursuant to Section
				27-29-3 shall furnish the required
				information on Form A, hereby made a part of this chapter. The person shall
				also furnish the required information on Form E, hereby made a part of this
				chapter and described in Rule 482-1-055.12.1.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.11 - Amendments To Form A

Current through Register Vol. 42, No. 9, June 28, 2024
The applicant shall promptly advise the Commissioner of any
				changes in the information furnished on Form A arising subsequent to the date
				upon which the information was furnished but prior to the Commissioner's
				disposition of the application.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.12 - Acquisition Of Insurers

Current through Register Vol. 42, No. 9, June 28, 2024
(1) If the
			 person being acquired is deemed to be a "domestic insurer" solely because of
			 the provisions of the Act, the name of the domestic insurer on the cover page
			 should be indicated as follows:
"ABC Insurance Company, as subsidiary of XYZ Holding
				Company."
(2) Where an
			 insurer is being acquired, references to "the insurer" contained in Form A
			 shall refer to both the domestic subsidiary insurer and the person being
			 acquired.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.12.1 - Pre-Acquisition Notification (Form E)

Current through Register Vol. 42, No. 9, June 28, 2024
(1) If a domestic insurer, including any
			 person controlling a domestic insurer, is proposing a merger or acquisition
			 pursuant to Section
			 27-29-3(a)(1),
			 that person shall file a pre-acquisition notification form, Form E, which was
			 developed pursuant to Section
			 27-29-3.1(c)(1).
(2) Additionally, if a non-domiciliary
			 insurer licensed to do business in this state is proposing a merger or
			 acquisition pursuant to Section
			 27-29-3.1, that person shall file
			 a pre-acquisition notification form, Form E. No pre-acquisition notification
			 form need be filed if the acquisition is beyond the scope of Section
			 27-29-3.1 as set forth in Section
			 27-29-3.1(b)(2).
(3) In addition to the information required
			 by Form E, the Commissioner may wish to require an expert opinion as to the
			 competitive impact of the proposed acquisition.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.13 - Annual Registration Of Insurers - Statement Filing (Form B)

Current through Register Vol. 42, No. 9, June 28, 2024
An insurer required to file an annual registration statement
				pursuant to Section
				27-29-4 shall furnish the required
				information on Form B, hereby made a part of this chapter.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.14 - Summary Of Changes To Registration - Statement Filing (Form C)

Current through Register Vol. 42, No. 9, June 28, 2024
An insurer required to file an annual registration statement
				pursuant to Section
				27-29-4 is also required to
				furnish information required on Form C, hereby made a part of this
				chapter.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.15 - Amendments To Form B

Current through Register Vol. 42, No. 9, June 28, 2024
(1) An
			 amendment to Form B shall be filed within fifteen (15) days after the end of
			 any month in which there is a material change to the information provided in
			 the annual registration statement.
(2) Amendments shall be filed in the Form B
			 format with only those items which are being amended reported. Each amendment
			 shall include at the top of the cover page "Amendment No. (insert number) to
			 Form B for (insert year)" and shall indicate the date of the change and not the
			 date of the original filings.
Author:
Commissioner of Insurance
Statutory Authority:
Code of Ala.
				  1975
, §§
										27-2-17,
				  27-29-8.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.16 - Alternative And Consolidated Registrations

Current through Register Vol. 42, No. 9, June 28, 2024
(1) Any authorized insurer may file a
			 registration statement on behalf of any affiliated insurer or insurers which
			 are required to register under Section
			 27-29-4. A registration statement
			 may include information not required by the Act regarding any insurer in the
			 insurance holding company system even if the insurer is not authorized to do
			 business in this State. In lieu of filing a registration statement on Form B,
			 the authorized insurer may file a copy of the registration statement or similar
			 report which it is required to file in its state of domicile, provided:
(a) The statement or report contains
			 substantially similar information required to be furnished on Form B;
			 and
(b) The filing insurer is the
			 principal insurance company in the insurance holding company system.
Alabama Administrative Code › Title 482 - ALABAMA DEPARTMENT OF INSURANCE › Chapter 482-1-055 - INSURANCE HOLDING COMPANY SYSTEM REGULATION WITH REPORTING FORMS AND INSTRUCTIONS › Section 482-1-055-.17 - Disclaimers And Termination Of Registration

Current through Register Vol. 42, No. 9, June 28, 2024
(1) A disclaimer of affiliation or a request
			 for termination of registration claiming that a person does not, or will not
			 upon the taking of some proposed action, control another person (hereinafter
			 referred to as the "subject") shall contain the following information:
(a) The number of authorized, issued and
			 outstanding voting securities of the subject.
(b) With respect to the person whose control
			 is denied and all affiliates of such person, the number and percentage of
			 shares of the subject's voting securities which are held of record or known to
			 be beneficially owned, and the number of shares concerning which there is a
			 right to acquire, directly or indirectly.
(c) All material relationships and bases for
			 affiliation between the subject and the person whose control is denied and all
			 affiliates of such person.
(d) A
			 statement explaining why the person should not be considered to control the
			 subject.