Alabama § 27-35-6 Conversion into Stock or Mutual Life Insurance Company - Certificates of Incorporation and Authority

Alabama Statutes

§ 27-35-6 — Conversion into Stock or Mutual Life Insurance Company - Certificates of Incorporation and Authority

Alabama § 27-35-6

Title 27Insurance

Ch. 35Conversion of Fraternal Benefit Societies

This text of Alabama § 27-35-6 (Conversion into Stock or Mutual Life Insurance Company - Certificates of Incorporation and Authority) 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 § 27-35-6 (2026).

Text

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.

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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.