HB258 Alabama 2021 Session
Bill Summary
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
Relating to insurance; to amend Section 27-36A-20 of the Code of Alabama 1975, the Standard Valuation Law, which requires the Commissioner of Insurance to annually value the reserves for outstanding life insurance policies and other contracts of life insurance companies doing business in this state; and to revise the small company alternative valuation.
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 6, 2021 | H | Indefinitely Postponed |
| February 10, 2021 | H | Read for the second time and placed on the calendar |
| February 2, 2021 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | February 10, 2021 | Room 617 at 09:00 | House INS Hearing |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB258 Alabama 2021 Session - Introduced |
| Fiscal Note | Fiscal Note - HB258 for Insurance |