HB199 Alabama 2013 Session
Bill Summary
Under existing law, an insurance company may enter into an insurance contract to insure a risk and the insurance company may reinsure the risk with another insurance company. The Insurance Department generally requires a company to maintain reserves and regulates when an insurance company entering into a reinsurance contract with another insurer may receive credit against its otherwise required reserves
This bill would make Alabama's law regulating reinsurers and the credit an insurer may apply against its otherwise required reserves substantially similar to the current version of the Credit for Reinsurance Model Law developed by the National Association of Insurance Commissioners
Relating to the Insurance Department; to further provide for the regulation of reinsurance; to add Chapter 5B to Title 27, Code of Alabama 1975; and to repeal Section 27-5B-12, Code of Alabama 1975.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 7, 2013 | H | Delivered to Governor at 12:20 p.m. on May 7, 2013. |
| May 7, 2013 | H | Assigned Act No. 2013-209. |
| May 7, 2013 | H | Clerk of the House Certification |
| May 7, 2013 | S | Signature Requested |
| May 2, 2013 | H | Enrolled |
| May 2, 2013 | H | Passed Second House |
| May 2, 2013 | S | Motion to Read a Third Time and Pass adopted Roll Call 799 |
| May 2, 2013 | S | Third Reading Passed |
| April 24, 2013 | S | Read for the second time and placed on the calendar |
| April 18, 2013 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
| April 18, 2013 | H | Engrossed |
| April 18, 2013 | H | Motion to Read a Third Time and Pass adopted Roll Call 652 |
| April 18, 2013 | H | Motion to Adopt adopted Roll Call 651 |
| April 18, 2013 | H | Insurance first Substitute Offered |
| April 18, 2013 | H | Third Reading Passed |
| February 21, 2013 | H | Read for the second time and placed on the calendar with 1 substitute and |
| February 7, 2013 | H | 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 | HB199 Alabama 2013 Session - Enrolled |
| Bill Text | HB199 Alabama 2013 Session - Engrossed |
| Bill Text | HB199 Alabama 2013 Session - Introduced |