Ala. Code §§ 27-29-1 through 27-29-3.1: Alabama Insurance Holding Company System Regulatory Act – Alabama

Status: Enacted
Year Enacted: 1973
Year Amended: 2017
File: Download

Statutes provide procedures required for mergers and acquisitions of a domestic insurer and allow the commissioner to enter cease and desist orders when the commissioner makes a finding that the effect of such a merger or acquisition would tend to create a monopoly or the acquirer failed to provide adequate information in its pre-acquisition notification filing. Statutes specifically define what would violate the competitive standard and also provide various definitions related to the section and penalties related to violations of statutes.


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