HB573 Alabama 2010 Session

Summary

Primary Sponsor

Mike Hill

Republican

Session

Regular Session 2010

Title

Insurance companies, domestic, home office kept outside this state, requirement for duplicate records and office managed by officer of company deleted, records available to commissioner on request, Sec. 27-27-29 am'd.

Description

Under existing law, a domestic insurer may maintain its principal place of business outside of this state if it maintains a complete duplicate set of records and keeps an office in this state managed by one or more officers of the insurer in this state.

This bill would delete these requirements and would specify that suitable and customary records be kept and made available to the Commissioner of Insurance at its offices outside the state.

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Subjects

Insurance