HB506 Alabama 2018 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2018
Title
Insurance companies, corporate governance, required to provide Commissioner of Insurance annually, Corporate Governance Model Act enacted, Secs. 27-29B-1 to 27-29B-9, inclusive, added
Description
<p class="bill_description"> Under existing law, an insurer domiciled in
this state provides information to the Commissioner
of Insurance concerning the corporate governance
practices of the insurer at least once every five
years during a full-scope examination of the
insurer by the commissioner</p><p class="bill_description">
This bill would require an insurer domiciled
in this state to provide information to the
Commissioner of Insurance on an annual basis
regarding the corporate governance practices of the
insurer by adopting a law substantially similar to
the Corporate Governance Model Act developed by the
National Association of Insurance Commissioners</p><p class="bill_description">
The bill would provide that the information would
be confidential and privileged</p><p class="bill_entitled_an_act"> Relating to insurance; to add Chapter 29B to Title
27, Code of Alabama 1975, to require insurers domiciled in
this state to provide information to the Commissioner of
Insurance on an annual basis regarding the corporate
governance practices of the insurer; and to provide that the
information would be confidential and privileged under certain
conditions.
</p>
Subjects
Insurance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 8, 2018 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | April 26, 2017 | Room 429 at 15:00 | House SG Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB506 Alabama 2018 Session - Introduced |