HB573 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
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
<p class="bill_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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> To amend Section 27-27-29, Code of Alabama 1975, to
delete the requirement that a domestic insurer whose principal
place of business is located outside of this state maintain a
duplicate set of records and keep an office managed by one or
more officers of the insured in this state and to further
specify that records kept at the executive office outside
Alabama shall be made available to the Commissioner of
Insurance upon reasonable notice.
</p>
Subjects
Insurance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| April 14, 2010 | Indefinitely Postponed | |
| March 25, 2010 | Read for the second time and placed on the calendar | |
| February 16, 2010 | Read for the first time and referred to the House of Representatives committee on Banking and Insurance |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB573 Alabama 2010 Session - Introduced |