Ala. Admin. Code r. 482-1-055-.12.1

Current through Register Vol. 43, No. 1, October 31, 2024

Section 482-1-055-.12.1 - Pre-Acquisition Notification (Form E)

(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.

Ala. Admin. Code r. 482-1-055-.12.1

Adopted by Alabama Administrative Monthly Volume XXXIII, Issue No. 11, August 31, 2015, eff. 1/1/2016.

Author: Commissioner of Insurance

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