American Southern definition

American Southern means American Southern Insurance Company, an insurance company organized under the laws of the State of Kansas.
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American Southern has a lawsuit (Civil Action No. 95-2588) pending with the Department in Florida (the "Florida Premium Tax Litigation"). The issue revolves around the appropriate retaliatory premium tax to be paid by American Southern to Florida. The Department is alleging that the Georgia tax rate is 2.25% and the local premium tax rate is 2.5% for a total rate of 4.75%. The Florida tax rate is 2%. The Department is effectively saying that the retaliatory rate should be 2.75%. American Southern's major argument is that in Georgia there is an investment offset available to all companies that can reduce the effective Georgia rate from 2.25% to .5% and American Southern has always qualified for this reduction. With a Georgia rate of .5% and a local premium tax of 2.5%, the total Georgia tax is 3% compared to Florida's 2% for a retaliatory rate of 1%. The amount of tax in dispute is approximately $839,999 for the years 1985 through 1990. Penalties and interest with respect to the disputed tax amount are approximately $748,000 and $86,700, respectively. If the suit is lost, Borrower intends to seek indemnification from InterRedec, the owner of American Southern during the period from 1985 to 1990. In 1993, this suit was tried and American Southern won. In 1994, the Florida legislature passed a law which was intended to retroactively change the way the retaliatory tax was calculated. The Department then asked the trial judge to rehear the case in light of the new Florida law. The case was heard in November 1994 and in July 1995 the judge ruled for the Department. The case is now under appeal.
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Examples of American Southern in a sentence

  • The Borrower will not, and will not permit American Southern or Bankers Fidelity Life to, cease or suspend its usual business activities for more than three (3) consecutive Business Days.

  • Subsidiary Owner of Subsidiary Shares/ Equity Interests % of Shares/Equity Interests Owned Bankers Fidelity Life Insurance Company Atlantic American Corporation 100% American Southern Insurance Company Atlantic American Corporation 100% Xcalibre Risk Services, Inc.

  • American Southern Insurance Company 100% Automobile Safety Management, Inc.

  • American Southern Insurance Company 100% American Safety Insurance Company American Southern Insurance Company 100% Automated Systems of Georgia, Inc.

  • After giving effect to the execution and delivery of the Loan Documents and the making of any Revolving Loans under this Agreement, (i) each of the Borrower, American Southern and Bankers Fidelity Life is Solvent, and (b) the Borrower and its Subsidiaries, taken as a whole, are Solvent.

  • The Borrower shall not cause or permit, at any time during the term of this Agreement, either (a) the AM Best financial strength rating of American Southern to be lower that “A”, (b) the AM Best financial strength rating of Bankers Fidelity Life to be lower than “A-”, or (c) the AM Best long term issuer credit rating of the Borrower to be lower than “bbb-”.

  • Immediately upon the consummation of any conveyance, sale, transfer, lease, assignment or other disposition of any portion of the Capital Stock of, or substantially all of the assets of, American Southern or Bankers Fidelity Life, Borrower shall prepay the then outstanding Obligations in their entirety.

Related to American Southern

  • AT&T SOUTH CAROLINA means the AT&T owned ILEC doing business in South Carolina.

  • AT&T SOUTHEAST REGION 9-STATE means the AT&T owned ILEC(s) doing business in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee.

  • African American means a person having origins in any of the original peoples of Africa and who is regarded as such by the community of which this person claims to be a part.

  • Home health services means part-time or intermittent skilled nursing services, other therapeutic services (physical therapy, occupational therapy, speech therapy), and home health aide services made available on a visiting basis in a place of residence used as the client's home.

  • Home health aide means an individual employed by a home health agency to provide home health services under the direction of a registered nurse or therapist.

  • Cook means an employee who grills food on a salamander, stove, hot plate or barbecue type cooker and shall include preparing, frying or cooking fish or chicken or cooking pizzas.

  • American Indian means those persons for whom services may be provided as an Indian pursuant to 25 USC 1603(13), 1603(28), or 1679(a), or 42 CFR § 136.12.

  • Home health aide services means the personal care and maintenance activities provided to individuals for the purpose of promoting normal standards of health and hygiene.

  • Home Health Care means the continual care and treatment of an individual if:

  • SITC means the Standard International Trade Classification, Revision 3 (SITC, Rev. 3), published by the United Nations in Statistical Papers, Series M, No. 34/Rev. 3 (1986);

  • Electric Service means the furnishing of electric power and energy for lighting, heating, power, or any other purpose for which electric power and energy can be used;

  • AT&T MISSOURI means the AT&T owned ILEC doing business in Missouri.

  • AT&T MICHIGAN means the AT&T owned ILEC doing business in Michigan.

  • School health services means health services provided by a qualified school nurse or other qualified person that are designed to enable a child with a disability to receive FAPE as described in the child’s IEP.

  • Homemaker services means the professionally directed or supervised simple household maintenance or management services provided by trained homemakers or individuals to families in their own homes.

  • AT&T TENNESSEE means the AT&T owned ILEC doing business in Tennessee.

  • AT&T KANSAS means the AT&T owned ILEC doing business in Kansas.

  • Ontario Health means the corporation without share capital under the name Ontario Health as continued under the CCA;

  • AT&T KENTUCKY means the AT&T owned ILEC doing business in Kentucky.

  • AT&T TEXAS means the AT&T owned ILEC doing business in Texas.

  • Forest means an area of land defined by the minimum values for area size, tree crown cover or an equivalent stocking level, and potential tree height at maturity at the place of growth of the trees as specified for each Member State in Annex II. It includes areas with trees, including groups of growing, young, natural trees, or plantations that have yet to reach the minimum values for tree crown cover or an equivalent stocking level or minimum tree height as specified in Annex II, including any area that normally forms part of the forest area but on which there are temporarily no trees as a result of human intervention, such as harvesting, or as a result of natural causes, but which area can be expected to revert to forest;