AL HB221

Amends Sections 27-14-3 and 27-15-8 of the Code of Alabama 1975 to correct outdated internal citations relating to preneed insurance and life insurance policy loans.

Updates references in Section 27-14-3(d) from "Section 27-17A-32(d)(1)" to "34-13-232(d)(1)" and changes all references to "Chapter 17A" to "Article 5 of Chapter 13 of Title 34" for preneed contract provisions.

Updates references in Section 27-15-8(a) from "Section 21-15-28" to "27-15-28, amended and renumbered as Article 3 of Chapter 15" regarding life insurance policy loan provisions.

Makes technical corrections to language in Section 27-15-8(a) by changing "will shall" to "shall" and "such" to "the" for grammatical clarity.

Becomes effective June 1, 2024.