AL HB262

Amends Sections 27-14-3 and 27-15-8 of the Code of Alabama 1975 to correct outdated internal citations relating to preneed insurance and life insurance policy loans.

Corrects reference in Section 27-14-3(d) from "27-17A-32(d)(1)" to "34-13-232(d)(1)" regarding trustee insurable interest in preneed contract purchasers and beneficiaries.

Corrects references in Section 27-14-3(d) from "Chapter 17A" to "Article 5 of Chapter 13 of Title 34" in three locations regarding preneed insurance requirements and life insurance policy limits of $20,000.

Corrects reference 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.

Takes effect on June 1, 2025.