Alabama § 27-35-11 Conversion into Stock or Mutual Life Insurance Company - Separate Record of Premiums; Exemption from Premium Taxes

Alabama Statutes

§ 27-35-11 — Conversion into Stock or Mutual Life Insurance Company - Separate Record of Premiums; Exemption from Premium Taxes

Alabama § 27-35-11

Title 27Insurance

Ch. 35Conversion of Fraternal Benefit Societies

This text of Alabama § 27-35-11 (Conversion into Stock or Mutual Life Insurance Company - Separate Record of Premiums; Exemption from Premium Taxes) 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 § 27-35-11 (2026).

Text

The insurer, after conversion from a fraternal benefit society, shall maintain separate records of premiums received by it on account of policies and certificates originally issued while a fraternal benefit society and continuing in force without material change as to form or basis of premium. All such premiums shall be exempt from premium taxes to the same extent, if any, as to which exempted if currently received by a domestic fraternal benefit society.

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The insurer, after conversion from a fraternal benefit society, shall maintain separate records of premiums received by it on account of policies and certificates originally issued while a fraternal benefit society and continuing in force without material change as to form or basis of premium. All such premiums shall be exempt from premium taxes to the same extent, if any, as to which exempted if currently received by a domestic fraternal benefit society.