SBIR: Shelnutt motion to Adopt Roll Call 204
Yes
23
Absent
12
SB23 Alabama 2021 Session
Updated Apr 19, 2021
SB23 Alabama 2021 Session
Senate Bill
Enacted
Current Status
Regular Session 2021
Session
1
Sponsor
Summary
- Primary Sponsor
-
Shay Shelnutt SenatorRepublican - Session
- Regular Session 2021
- 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Insurance Company revised, certificate of dormancy provided for, Secs. 27-31B-26, 27-31C-3.1 added; Sec. 27-31C-4 repealed; Secs. 27-31B-2, 27-31B-3, 37-31B-6, 27-31C-3 am'd.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
Under existing law, captive insurance companies are licensed and regulated by the Alabama Department of Insurance.
This bill would revise certain definitions relating to captive insurance companies, would authorize insurance to be placed on risks in alien jurisdictions under certain conditions, and would revise certain security requirements for the payment of liabilities attributable to branch operations.
This bill would also revise certain requirements relating to an Alabama Coastal Captive Insurance Company, would provide for the issuance of certificates of dormancy for captive insurance companies that meet certain requirements, and would require dormant captive insurance companies to take certain action.
- Subjects
- Insurance
Bill Actions
S
Assigned Act No. 2021-162.
S
Enrolled
H
Signature Requested
S
Passed Second House
H
Motion to Read a Third Time and Pass adopted Roll Call 577
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 Insurance
S
Engrossed
S
Motion to Read a Third Time and Pass adopted Roll Call 206
S
Shelnutt motion to Adopt adopted Roll Call 205
S
Banking and Insurance first Substitute Offered
S
Third Reading Passed
S
Read for the second time and placed on the calendar with 1 substitute and
S
Read for the first time and referred to the Senate committee on Banking and Insurance
Bill Text
Votes
Shelnutt motion to Adopt Roll Call 205
Yes
23
Absent
12
Motion to Read a Third Time and Pass Roll Call 206
Yes
23
Absent
12
HBIR: Faulkner motion to Adopt Roll Call 576
Yes
96
Absent
7
Motion to Read a Third Time and Pass Roll Call 577
Yes
94
Abstained
1
Absent
8
Documents
Bill Text (Enrolled)
SB23 Alabama 2021 Session - Enrolled
Bill Text (Engrossed)
SB23 Alabama 2021 Session - Engrossed
Bill Text (Introduced)
SB23 Alabama 2021 Session - Introduced
Source: Alabama Legislature