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2019 Code of Alabama
Title 27 - Insurance.
Chapter 35 - Conversion of Fraternal Benefit Societies.
Section 27-35-6 - Conversion into stock or mutual life insurance company - Certificates of incorporation and authority.
Universal Citation: AL Code § 27-35-6 (2019)
Section 27-35-6Conversion into stock or mutual life insurance company - Certificates of incorporation and authority.
The society shall have corporate existence as a domestic stock or mutual life insurer upon issuance of the certificate of incorporation by the commissioner or approval of the amended articles of incorporation, as the case may be; but it shall not transact business as an insurer until all its authorized capital stock, if a stock insurer, has been subscribed and paid in full and it has otherwise qualified for, and received from the commissioner, a certificate of authority as provided in this title for legal reserve insurers.
(Acts 1971, No. 407, p. 707, §732.)
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