Alabama § 27-35-9 Conversion into Stock or Mutual Life Insurance Company - Preservation of Debts, Liabilities, and Duties

Alabama Statutes

§ 27-35-9 — Conversion into Stock or Mutual Life Insurance Company - Preservation of Debts, Liabilities, and Duties

Alabama § 27-35-9

Title 27Insurance

Ch. 35Conversion of Fraternal Benefit Societies

This text of Alabama § 27-35-9 (Conversion into Stock or Mutual Life Insurance Company - Preservation of Debts, Liabilities, and Duties) 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 § 27-35-9 (2026).

Text

Rights of creditors and all liens upon the property of the former fraternal benefit society shall be preserved unimpaired after the society’s conversion, and the former fraternal benefit society shall be deemed to continue in existence in order to preserve the same; and all debts, liabilities, and duties of the former fraternal benefit society shall thenceforth attach to the reorganized and converted corporation and may be enforced against it to the same extent as if said debts, duties, and liabilities had been incurred or contracted by it.

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Rights of creditors and all liens upon the property of the former fraternal benefit society shall be preserved unimpaired after the society’s conversion, and the former fraternal benefit society shall be deemed to continue in existence in order to preserve the same; and all debts, liabilities, and duties of the former fraternal benefit society shall thenceforth attach to the reorganized and converted corporation and may be enforced against it to the same extent as if said debts, duties, and liabilities had been incurred or contracted by it.