The bill, known as SB124, aims to extend the existence and operations of the Alabama Security Regulatory Board until October 1, 2027, in accordance with the Alabama Sunset Law. The legislation reflects the recommendations of the Sunset Committee, which has determined that the board should continue its functions. The bill explicitly preserves the relevant code sections under Chapter 27C of Title 34, Code of Alabama 1975, ensuring that the board's authority and responsibilities remain intact.

The new legal language inserted into the current law includes the continuation of the board's existence until the specified date, while no deletions from existing law are noted in the text. The act is set to take effect on June 1, 2024, following its passage in both the Senate and the House of Representatives.