Alabama § 27-3-31 Domestic Insurer May Transfer Domicile to Another State and Be Admitted as Foreign Insurer If so Qualified; Approval of Commissioner of Insurance; Effect of Interests of Policyholders

Alabama Statutes

§ 27-3-31 — Domestic Insurer May Transfer Domicile to Another State and Be Admitted as Foreign Insurer If so Qualified; Approval of Commissioner of Insurance; Effect of Interests of Policyholders

Alabama § 27-3-31

Title 27Insurance

Ch. 3Authorization of Insurers

This text of Alabama § 27-3-31 (Domestic Insurer May Transfer Domicile to Another State and Be Admitted as Foreign Insurer If so Qualified; Approval of Commissioner of Insurance; Effect of Interests of Policyholders) 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 § 27-3-31 (2026).

Text

Any domestic insurer may, upon the approval of the Commissioner of Insurance, transfer its domicile to any other state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer, and shall be admitted to this state if qualified as a foreign insurer. The Commissioner of Insurance shall approve any such proposed transfer unless he shall determine such transfer is not in the interest of the policyholders of this state.

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Any domestic insurer may, upon the approval of the Commissioner of Insurance, transfer its domicile to any other state in which it is admitted to transact the business of insurance, and upon such a transfer shall cease to be a domestic insurer, and shall be admitted to this state if qualified as a foreign insurer. The Commissioner of Insurance shall approve any such proposed transfer unless he shall determine such transfer is not in the interest of the policyholders of this state.