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- Chapter 35. Conversion of Fraternal Benefit Societies
Ala. Code § 27-35-11 (1975) Conversion Into Stock Or Mutual Life Insurance Company - Separate Record of Premiums; Exemption From Premium Taxes
| Library | Alabama Statutes |
| Edition | 2023 |
| Currency | Current with legislation from the 2023 Regular and Special Sessions. |
| Year | 2023 |
| Citation | Ala. Code § 27-35-11 (1975) |
The insurer, after conversion from a fraternal benefit society, shall maintain separate records of premiums received by it on account of policies and certificates originally issued while a fraternal benefit society and continuing in force without material change as to form or basis of premium. All such premiums shall be exempt from premium taxes to the same extent, if any, as to which exempte...
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