HB258 Alabama 2021 Session
Summary
- Primary Sponsor
-
Kerry Rich RepresentativeRepublican - Session
- Regular Session 2021
- Title
- Insurance Department, Commissioner, Standard Valuation Law, small company alternative valuation, condition for revised, Sec. 27-36A-20 am'd.
- Description
Under existing law, the Standard Valuation Law requires the Commissioner of Insurance to annually value the reserves for outstanding life insurance policies and annuity and endowment contracts of life insurance companies doing business in this state. The law provides for an alternative valuation for small companies that meet certain conditions, including certain dollar figures of premiums.
This bill would revise the conditions for the Commissioner of Insurance to use the small company alternative valuation provisions for the valuation of the reserves of certain small companies meeting certain requirements.
- Subjects
- Insurance Department
Bill Actions
Indefinitely Postponed
Read for the second time and placed on the calendar
Read for the first time and referred to the House of Representatives committee on Insurance
Bill Text
Documents
Source: Alabama Legislature