HB225 Alabama 2013 Session

Signed by Governor

Bill Summary

Session

Regular Session 2013

Title

Insurance, out-of-state insurers, investments, cash equivalents exempted from quality and diversity requirements, Sec. 27-41-39 am'd.

Description

Under existing law, the investments of foreign and alien insurers are required to be of a quality and diversity substantially equivalent to the quality and diversity required of domestic insurers.

This bill would provide an exception to the quality and diversity of investments requirement for foreign and alien insurers for cash equivalents.

Relating to insurance; to amend Section 27-41-39, Code of Alabama 1975, to exempt cash equivalents from the quality and diversity requirements of the investments of foreign and alien insurers authorized to transact insurance in this state.

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. 2013-197.
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 801
May 2, 2013	S	Third Reading Passed
April 18, 2013	S	Read for the second time and placed on the calendar
April 11, 2013	S	Read for the first time and referred to the Senate committee on Banking and Insurance
April 9, 2013	H	Motion to Read a Third Time and Pass adopted Roll Call 336
April 9, 2013	H	Third Reading Passed
February 21, 2013	H	Read for the second time and placed on the calendar
February 7, 2013	H	Read for the first time and referred to the House of Representatives committee on Insurance