HB199 Alabama 2013 Session
Signed by Governor
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Insurance Department, reinsurance, regulation of, model law adopted, Chapter 5B, Title 27 added, Secs. 27-5B-1 to 27-5B-19, inclusive, added; Sec. 27-5-12 repealed
Description
<p class="bill_description"> 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</p><p class="bill_description">
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</p><p class="bill_entitled_an_act"> 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.
</p>
Subjects
Insurance
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 - Introduced |
| Bill Text | HB199 Alabama 2013 Session - Engrossed |
| Bill Text | HB199 Alabama 2013 Session - Enrolled |