Alabama § 27-27-59 Insider Trading of Domestic Stock Insurer Equity Securities - Equity Securities - Applicability of Sections 27-27-53 through 27-27-55

Alabama Statutes

§ 27-27-59 — Insider Trading of Domestic Stock Insurer Equity Securities - Equity Securities - Applicability of Sections 27-27-53 through 27-27-55

Alabama § 27-27-59

Title 27Insurance

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

This text of Alabama § 27-27-59 (Insider Trading of Domestic Stock Insurer Equity Securities - Equity Securities - Applicability of Sections 27-27-53 through 27-27-55) 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 § 27-27-59 (2026).

Text

The provisions of Sections 27-27-53 through 27-27-55 shall not apply to equity securities of a domestic stock insurance company if:

(1)Such securities shall be registered, or shall be required to be registered, pursuant to Section 12 of the Securities Exchange Act of 1934, as amended; or

(2)Such domestic stock insurance company shall not have any class of its equity securities held of record by 100 or more persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to the provisions of Sections 27-27-53 through 27-27-55 except for the provisions of this subdivision.

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The provisions of Sections 27-27-53 through 27-27-55 shall not apply to equity securities of a domestic stock insurance company if:
(1) Such securities shall be registered, or shall be required to be registered, pursuant to Section 12 of the Securities Exchange Act of 1934, as amended; or
(2) Such domestic stock insurance company shall not have any class of its equity securities held of record by 100 or more persons on the last business day of the year next preceding the year in which equity securities of the company would be subject to the provisions of Sections 27-27-53 through 27-27-55 except for the provisions of this subdivision.