HB567 Alabama 2012 Session
Bill Summary
Under existing law, an insurer is required to maintain certain minimal levels of unimpaired capital to be authorized to transact business in this state and is required to meet certain other requirements based on the amount of risk taken. A life and health insurer is subject to a company action level event when the risk-based capital report indicates certain levels
This bill would also subject property and casualty insurers to a company action level event when the risk-based capital report indicates certain specified levels. The bill would also correct an error in citation and make clarifying nonsubstantive changes
Relating to insurance; to amend Sections 27-2B-2, 27-2B-3, and 27-2B-4 of the Code of Alabama 1975, to provide that a property and casualty insurer would be subject to a company action level event when its risk-based capital report indicates certain specified levels.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Pending third reading on day 29 Favorable from Finance and Taxation General Fund | |
| May 9, 2012 | Read for the second time and placed on the calendar | |
| May 3, 2012 | Harper intended to vote Yea | |
| May 3, 2012 | Read for the first time and referred to the Senate committee on Finance and Taxation General Fund | |
| May 3, 2012 | Motion to Read a Third Time and Pass adopted Roll Call 1231 | |
| May 3, 2012 | Third Reading Passed | |
| April 5, 2012 | Read for the second time and placed on the calendar | |
| March 20, 2012 | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB567 Alabama 2012 Session - Introduced |