AL SB481

Repeals sections 27-1-24 through 27-2-7 of the Alabama Insurance Code, effectively eliminating provisions governing the Alabama Insurance Underwriting Association and the Department of Insurance.

Eliminates requirements for insurers writing fire and extended coverage insurance to maintain membership in the Alabama Insurance Underwriting Association as a condition of operating in Alabama.

Removes statutory provisions establishing the Commissioner of Insurance position, including appointment by the Governor, term requirements, oath and bond obligations, and compensation structure.

Repeals provisions governing the Department of Insurance structure, operations, commissioner duties, office locations, and administrative functions.

Takes effect immediately upon passage and approval by the Governor, or upon becoming law through other means.