HB220 Alabama 2020 Session
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Bill Summary
Sponsors
Session
Regular Session 2020
Title
Captive Insurance Companies, insurance in alien jurisdictions auth., requirements for an Alabama Coastal Captive Insurance Company revised, certificate of dormancy provided for, Secs. 27-31B-26, 27-31C-3.1 added; Sec. 27-31C-4 repealed; Secs. 27-31B-2, 27-31B-3, 37-31B-6, 27-31C-3 am'd.
Description
<p class="bill_entitled_an_act"> Relating to captive insurance companies; to amend
Sections 27-31B-2, 27-31B-3, 27-31B-6, and 27-31C-3, Code of
Alabama 1975, to revise certain definitions; to authorize
insurance to be placed on risks in alien jurisdictions under
certain conditions; to revise certain security requirements
for the payment of liabilities attributable to branch
operations; to revise certain requirements relating to an
Alabama Coastal Captive Insurance Company; to provide for the
issuance of certificates of dormancy for captive insurance
companies that meet certain requirements; to require dormant
captive insurance companies to take certain action; to add
Section 27-31C-3.1 to the Code of Alabama 1975; and to repeal
Section 27-31C-4, Code of Alabama 1975, relating to Alabama
Coastal Captive Insurance Companies.
</p>
Subjects
Insurance
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| March 12, 2020 | S | Pending third reading on day 13 Favorable from Banking and Insurance |
| March 12, 2020 | S | Read for the second time and placed on the calendar |
| February 25, 2020 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
| February 25, 2020 | H | Engrossed |
| February 25, 2020 | H | Motion to Read a Third Time and Pass adopted Roll Call 116 |
| February 25, 2020 | H | Motion to Adopt adopted Roll Call 115 |
| February 25, 2020 | H | Insurance Amendment Offered |
| February 25, 2020 | H | Third Reading Passed |
| February 20, 2020 | H | Read for the second time and placed on the calendar 1 amendment |
| February 11, 2020 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | March 11, 2020 | Room 320 **Two Bills Taken off the Agenda** at 14:30 | Senate B&I Hearing |
| Hearing | March 11, 2020 | Room 320 at 14:30 | Senate B&I Hearing |
| Hearing | February 19, 2020 | Room 617 at 10:30 | House INS Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB220 Alabama 2020 Session - Introduced |
| Bill Text | HB220 Alabama 2020 Session - Engrossed |
| Bill Amendments | House Insurance first Amendment Offered |