Ala. Admin. Code r. 482-1-055-.17

Current through Register Vol. 43, No. 02, November 27, 2024

Section 482-1-055-.17 - Disclaimers And Termination Of Registration

(1) A disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another person (hereinafter referred to as the "subject") shall contain the following information:

(a) The number of authorized, issued and outstanding voting securities of the subject.

(b) With respect to the person whose control is denied and all affiliates of such person, the number and percentage of shares of the subject's voting securities which are held of record or known to be beneficially owned, and the number of shares concerning which there is a right to acquire, directly or indirectly.

(c) All material relationships and bases for affiliation between the subject and the person whose control is denied and all affiliates of such person.

(d) A statement explaining why the person should not be considered to control the subject.

(2) A request for termination of registration shall be deemed to have been granted unless the Commissioner, within thirty (30) days after receipt of the request, notifies the registrant otherwise.

Ala. Admin. Code r. 482-1-055-.17

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.

Amended 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.