Ala. Admin. Code r. 482-1-055-.12 – Acquisition Of Section 27-29-3(a)(4) Insurers

(1) If the person being acquired is deemed to be a “domestic insurer” solely because of the provisions of Section 27-29-3(a)(4), the name of the domestic insurer on the cover page should be indicated as follows:
“ABC Insurance Company, a subsidiary of XYZ Holding Company.”
(2) Where a Section 27-29-3(a)(4) insurer is being acquired, references to “the insurer” contained in Form A shall refer to both the domestic subsidiary insurer and the person being acquired.

Author: Commissioner of Insurance

Statutory Authority: Code of Ala. 1975, §§27-2-17, 27-29-8.

History: Revised: July 5, 1994; effective July 15, 1994. Filed for codification in the Alabama Administrative Code by the Department of Insurance on June 10, 2003, pursuant to the Code of Ala. 1975, §27-7-43. Revised: August 12, 2015; effective January 1, 2016. Filed with LRS August 12, 2015. Rule is not subject to the Alabama Administrative Procedure Act.