Alabama § 27-3-30 - Foreign Insurer May Become Domestic Insurer; Method; Certificate and License Eligibility; Authority and Jurisdiction of State; Continuation of Corporate Existence and Date of Incorporation.

§ 27-3-30. Foreign Insurer May Become Domestic Insurer; Method; Certificate and License Eligibility; Authority and Jurisdiction of State; Continuation of Corporate Existence and Date of Incorporation.

Any insurer which is organized under the laws of any other state and is admitted to do business in this state for the purpose of writing insurance may become a domestic insurer by complying with all of the requirements of law relative to the organization and licensing of a domestic insurer of the same type and by designating its principal place of business at a place in this state. Said domestic insurer will be entitled to like certificates and licenses to transact business in this state and shall be subject to the authority and jurisdiction of this state. Articles of incorporation of such domestic insurer may be amended to provide that the corporation is a continuation of the corporate existence of the original foreign corporation through adoption of this state as its corporate domicile and that the original date of incorporation in its original domiciliary state is the date of incorporation of such domestic insurer.