- (1) If a domestic insurer, including any person controlling a domestic insurer, is proposing a merger or acquisition pursuant to Section 27-29-3(a)(1), that person shall file a pre-acquisition notification form, Form E, which was developed pursuant to Section 27-29-3.1(c)(1).
- (2) Additionally, if a non-domiciliary insurer licensed to do business in this state is proposing a merger or acquisition pursuant to Section 27-29-3.1, that person shall file a pre-acquisition notification form, Form E. No pre-acquisition notification form need be filed if the acquisition is beyond the scope of Section 27-29-3.1 as set forth in Section 27-29-3.1(b)(2).
- (3) In addition to the information required by Form E, the Commissioner may wish to require an expert opinion as to the competitive impact of the proposed acquisition.
Author: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, §§27-2-17, 27-29-8
History: New: August 12, 2015; effective January 1, 2016. Filed with LRS August 12, 2015. Rule is not subject to the Alabama Administrative Procedure Act.