{"data":{"id":"us-al/ala.-code-27-27-5","jurisdiction":"us-al","citation":"Ala. Code § 27-27-5","heading":"Solicitation Permit - Application.","body":"To apply for a solicitation permit, the person shall:\n(1) File with the commissioner a request therefor showing:\na. Name, type and purpose of insurer, corporation, syndicate, association, firm, partnership, or organization formed or proposed to be formed;\nb. Names, addresses, business background, and qualifications of each person associated, or to be associated, in the enterprise or in the formation of the proposed insurer, corporation, syndicate, association, firm, partnership, or organization;\nc. Full disclosure of the terms of all pertinent understandings and agreements existing or proposed among persons so associated; and copies of all such agreements, relative to the proposed financing of the insurer, corporation, syndicate, association, firm, partnership, or organization, or the formation thereof;\nd. The plan according to which solicitations are to be made; and\ne. Such additional information as the commissioner may reasonably require;\n(2) Submit to the commissioner:\na. The executed and acknowledged triplicate originals of the proposed articles of incorporation of any proposed domestic insurer, a certified copy of the articles of incorporation of any proposed domestic insurer, a certified copy of the articles of incorporation of any foreign insurer or of any other corporation proposing to sell its securities as referred to in Section 27-27-4, and copy of any syndicate, association, firm, partnership, organization, or other similar agreement, by whatever name called, if funds for any of the purposes referred to in Section 27-27-4 are to be secured through the sale of any security, interest, or right in, or relative to, such syndicate, association, firm, partnership, or organization and, if the proposed insurer is a domestic reciprocal insurer, an original and duplicate copy of the proposed power of attorney and of any other agreements proposed as affecting investors, subscribers, the attorney-in-fact, and the insurer or proposed insurer;\nb. Original and duplicate copy of any proposed bylaws;\nc. Copy of any security, receipt, or certificate proposed to be issued and copy of the proposed application or subscription agreement therefor;\nd. Copy of any insurance contract proposed to be offered by a proposed domestic mutual or reciprocal insurer and copy of application therefor;\ne. Copy of any prospectus, advertising, or sales literature proposed to be used;\nf. Copy of proposed form of any escrow agreement required; and\ng. Irrevocable appointment of the commissioner as process agent to receive service of process issued in this state arising out of any transactions under a solicitation permit, if issued, the appointment to be on a form as prescribed and furnished by the commissioner;\n(3) Deposit with the commissioner the fees required under Section 27-4-2 and otherwise by law to be paid for the application, for filing of the articles of incorporation of an insurer, for filing the subscribers’ agreement and attorney-in-fact agreement, if the proposed insurer is a reciprocal, and for the solicitation permit, if granted; and\n(4) In lieu of a special filing of the information, or part thereof, called for in subdivision (1) of this section, the commissioner may, in his discretion, accept a duplicate copy of any filing made with any other state or federal agency relative to the same offering or proposed offering.","path":["Title 27 Insurance.","Chapter 27 Organization and Corporate Procedures of Stock and Mutual Insurers."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=27-27-5","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:51Z","sha256":"c601f8670b20ce2339a10a035bbe0eeb563b7c36d80c13b75c9b3df73af85859","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-27-27-4","next":"us-al/ala.-code-27-27-6"},"notice":"GroundRules: Original legal text. Not legal advice."}