Alabama § 27-27-19 Domestic Mutual Insurers - Failure to Complete Organization

Alabama Statutes

§ 27-27-19 — Domestic Mutual Insurers - Failure to Complete Organization

Alabama § 27-27-19

Title 27Insurance

Ch. 27Organization and Corporate Procedures of Stock and Mutual Insurers

This text of Alabama § 27-27-19 (Domestic Mutual Insurers - Failure to Complete Organization) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-27-19 (2026).

Text

If the proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within one year from, and after, date of its certificate of incorporation, the corporation shall transact no further business, and the commissioner shall return, or cause to be returned, to the persons entitled thereto all advance deposits or payments of premiums held in trust under Section 27-27-18.

Free access — add to your briefcase to read the full text and ask questions with AI

If the proposed domestic mutual insurer fails to complete its organization and to secure its original certificate of authority within one year from, and after, date of its certificate of incorporation, the corporation shall transact no further business, and the commissioner shall return, or cause to be returned, to the persons entitled thereto all advance deposits or payments of premiums held in trust under Section 27-27-18.