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Attorneys
Insurance Mutual
of Alabama, Inc.
200 Inverness Parkway
Birmingham, Alabama 35242
Telephone 205-980-0009
Toll Free 800-526-1246
Fax 205-980-9009
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Recent Newsletters
Third General Debenture
Buyback Begins
AIM's Board of Directors
has just announced the third general buyback of debentures. A total of
500 debentures will be bought back. This effort commenced September 27,
2005, and will continue until completed. Debenture holders who missed
earlier opportunities to sell their debentures to AIM will be contacted first. By the completion of this buyback effort, it is
expected that all original debenture holders (those who purchased
debentures before AIM's
commencement of operation) will have been offered an opportunity to sell
their debentures to AIM for the face amount of $1,000. These debentures
are dated June 23, 1989. Eligible debenture holders will be contacted by
AIM. The list of debentures currently eligible for buyback can be seen
on AIM's web site:
http://www.attysinsmut.com/Debentures/EligibleDebentures.html
AIM also has an ongoing buyback of debentures for those falling into
certain categories. These categories include:
- Those 65 years of age or older and no longer require malpractice
insurance;
- Those who have ceased to practice law in the State of Alabama and (1)
have no right to obtain or maintain membership in good standing with the
Alabama State Bar, or (2) have moved from the State of Alabama and maintain
only a special license under Alabama Code 1975,
' 34-3-18;
- Those who have filed bankruptcy or have entered into a formal
arrangement for the benefit of creditors.
- Those who are full-time judges;
- A personal representative of a decedent's estate owning a debenture.
Holders of debentures falling within the above-listed categories
should contact AIM to obtain the correct buyback form and instructions.
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