HBIR: Rich motion to Adopt Roll Call 72
Yes
100
Absent
4
HB32 Alabama 2021 Session
Updated May 24, 2021
HB32 Alabama 2021 Session
House Bill
Enacted
Current Status
Regular Session 2021
Session
2
Sponsors
Summary
- Primary Sponsor
Kerry RichRepublican- Co-Sponsor
- Corley Ellis
- Session
- Regular Session 2021
- Title
- Insurance, reinsurance, regulation and credit against reserves, adoption of similar to Credit for Reinsurance Model Law by Nat. Assoc. of Insurance Commissioners, Secs. 27-5B-8.1, 27-5B-20 added; Secs. 27-5B-3, 27-5B-9, 27-5B-11, 27-5B-14, 27-5B-19 am'd.
- Description
Under existing law, an insurance company may enter into an insurance contract to insure a risk and the insurance company may reinsure the risk with another insurance company. The Insurance Department generally requires a company to maintain reserves and regulates when an insurance company entering into a reinsurance contract with another insurer may receive credit against its otherwise required reserves.
This bill would make Alabama's law regulating reinsurers and the credit an insurer may apply against its otherwise required reserves substantially similar to the current version of the Credit for Reinsurance Model Law developed by the National Association of Insurance Commissioners.
- Subjects
- Insurance
Bill Actions
H
Delivered to Governor at 1:43 p.m. on April 13, 2021.
H
Assigned Act No. 2021-235.
H
Clerk of the House Certification
S
Signature Requested
H
Enrolled
H
Passed Second House
S
Motion to Read a Third Time and Pass adopted Roll Call 885
S
Third Reading Passed
S
Read for the second time and placed on the calendar
S
Read for the first time and referred to the Senate committee on Banking and Insurance
H
Engrossed
H
Motion to Read a Third Time and Pass adopted Roll Call 74
H
Motion to Adopt adopted Roll Call 73
H
Jones (M) Amendment Offered
H
Third Reading Passed
H
Read for the second time and placed on the calendar
H
Read for the first time and referred to the House of Representatives committee on State Government
Bill Text
Votes
Motion to Adopt Roll Call 73
Yes
98
Abstained
1
Absent
5
Motion to Read a Third Time and Pass Roll Call 74
Yes
100
Abstained
1
Absent
3
SBIR: Shelnutt motion to Adopt Roll Call 884
Yes
32
Absent
2
Motion to Read a Third Time and Pass Roll Call 885
Yes
32
Absent
2
Documents
Bill Text (Enrolled)
HB32 Alabama 2021 Session - Enrolled
Bill Text (Engrossed)
HB32 Alabama 2021 Session - Engrossed
Bill Text (Introduced)
HB32 Alabama 2021 Session - Introduced
Source: Alabama Legislature