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Updated Notice to all Foreign Insurance Companies licensed in the State of Alabama

Qualifying to Do Business in the State of Alabama

Contact: Mike Bownes, General Counsel

334-241-4148

4/26/2002

The Alabama Commissioner of Insurance has entered into an agreement with the Alabama Secretary of State whereby foreign insurers will continue to "qualify to do business" in the State of Alabama by only making necessary filings with the Department of Insurance. To view the agreement please click below:

http://www.aldoi.gov/PDF/Legal/DOI_SOS.pdf

This agreement was reached between the Commissioner of Insurance and the Secretary of State after the Alabama Attorney General issued an opinion dated December 20, 2001, which concluded as follows:

The Alabama Department of Insurance acts as the agent for the Secretary of State for the purpose of performing the ministerial duties required of the Secretary of State under Amendment No. 473 and the Alabama Business Corporations Act.

To read the complete opinion of the Attorney General, please click below:

http://www.ago.state.al.us/pdfopinions/2002-099.pdf

As previously reported, this agreement essentially put into writing the procedures which have been in place for several years between the two offices. Those procedures include a delegation of certain ministerial and discretionary functions of the Secretary of State which are duplicative of the ones already required to be performed by the Alabama Department of Insurance, as is permitted in the opinion of the Attorney General. The only thing that will be done differently is that the Department will be collecting the $175 fee on behalf of the Secretary of State.