Ala. Admin. Code r. 482-1-138-.15
No person other than the issuer shall make a tender offer of or a request or invitation for tenders of, or enter into any agreement to exchange securities for, seek to acquire, or acquire in the open market or otherwise, any voting security of a domestic company if, after the consummation thereof, the person would, directly or indirectly (or by conversion or by exercise of any right to acquire) be in control of the company; and no person shall enter into an agreement to merge with or otherwise to acquire control of a domestic company without the prior written approval of the commissioner. In considering any application for acquisition of control or merger with a domestic company, the commissioner shall consider all of the facts and circumstances surrounding the application as well as the criteria for establishment of a company set out in this chapter.
Author: Commissioner of Insurance
Ala. Admin. Code r. 482-1-138-.15
Statutory Authority:Code of Ala. 1975, §§ 27-2-17; 27-7-43, 27-31B-17.