Ala. Admin. Code r. 482-1-138-.09

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

Section 482-1-138-.09 - Organizational Examination

In addition to processing of the application, an organizational investigation or examination may be performed before an applicant is licensed. Such investigation or examination shall consist of a general survey of the company's corporate records, including charter, bylaws and minute books; verification of capital and surplus; verification of principal place of business; determination of assets and liabilities; and a review of such other factors as the commissioner deems necessary.

Author: Commissioner of Insurance

New Rule: August 1, 2006; effective August 11, 2006. Filed with LRS August 1, 2006. Rule is not subject to the Alabama Administrative Procedure Act.

Statutory Authority:Code of Ala. 1975, §§ 27-2-17; 27-7-43, 27-31B-17.