SB349 Alabama 2013 Session

Summary

Primary Sponsor

Rodger SmithermanSenator

Democrat

Session

Regular Session 2013

Title

Insurance, Title 27, certain sections, repealed

Summary

SB349 would repeal portions of Alabama's Insurance Code (Title 27), removing penalties, the premium tax, and the defined classifications of insurance.

What This Bill Does

It repeals Sections 27-4A-4 through 27-5-6, which covered penalties for insurers, the premium tax, related tax exemptions, and the formal definitions of life, annuity, disability, property, and casualty insurance and their subtypes. Because these sections are repealed, those penalties and the premium tax would no longer apply, and the state would not maintain those explicit insurance category definitions. The change becomes effective immediately after passage and governor's approval.

Who It Affects

• Insurance companies and other insurers operating in Alabama would lose penalties for noncompliance and the premium tax framework, along with the associated tax exemptions.
• Mutual aid associations and related insurers would no longer be subject to the premium tax provisions that were previously in the code.

Key Provisions

• Repeal Sections 27-4A-4 through 27-5-6 of Title 27 (Insurance Code), eliminating penalties for noncompliance, the premium tax, exemptions tied to the premium tax, and the defined classifications and terms for life, annuity, disability, property, and casualty insurance.
• Effective date: immediate upon passage and governor's approval.

AI-generated summary using openai/gpt-5-nano on Feb 25, 2026. May contain errors — refer to the official bill text for accuracy.

Subjects

Insurance