SB136 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 4, 2021 | S | Assigned Act No. 2021-397. |
| May 4, 2021 | S | Enrolled |
| May 4, 2021 | H | Signature Requested |
| May 4, 2021 | S | Passed Second House |
| April 29, 2021 | H | Wood (D) intended to vote Yea |
| April 29, 2021 | H | Motion to Read a Third Time and Pass adopted Roll Call 1073 |
| April 29, 2021 | H | Third Reading Passed |
| March 11, 2021 | H | Read for the second time and placed on the calendar |
| February 25, 2021 | H | Read for the first time and referred to the House of Representatives committee on Insurance |
| February 25, 2021 | S | Motion to Read a Third Time and Pass adopted Roll Call 272 |
| February 25, 2021 | S | Third Reading Passed |
| February 10, 2021 | S | Read for the second time and placed on the calendar |
| February 2, 2021 | S | Read for the first time and referred to the Senate committee on Banking and Insurance |
Bill Calendar
| Type | Date | Location | Description |
|---|---|---|---|
| Hearing | March 10, 2021 | Room 617 at 00:00 | House INS Hearing |
| Hearing | February 10, 2021 | Room 325 **Added a bill** at 13:00 | Senate B&I Hearing |
| Hearing | February 10, 2021 | Room 325 at 13:00 | Senate B&I Hearing |
Bill Text
Bill Votes
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB136 Alabama 2021 Session - Enrolled |
| Bill Text | SB136 Alabama 2021 Session - Introduced |
| Fiscal Note | Fiscal Note - SB136 for Banking and Insurance |
| Fiscal Note | Fiscal Note - SB136 for Insurance |