Senate Bill 247 Alabama 2026 Session

Summary

Primary Sponsor

Andrew Jones Senator

Republican

Session

2026 Regular Session

Title

Insurance; to allow reorganization of a nonprofit health care service corporation under the control of a nonprofit holding company

Description

This bill would authorize a health care service corporation to reorganize under the ultimate control of a nonprofit holding corporation.

This bill would permit a nonprofit holding corporation that controls a health care service corporation to make and receive certain transfers and distributions.

This bill would further establish operational and reporting requirements for nonprofit holding corporations, their subsidiaries, and the reorganized health care service corporation.

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Subjects

Businesses & Financial Institutions