The bill, known as SB124, seeks 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 includes an insertion that formally continues the Board's functioning and preserves the relevant code sections under Chapter 27C of Title 34, Code of Alabama 1975. The Sunset Committee has recommended this continuance, and the Legislature has concurred with their recommendations.

Additionally, the bill specifies that it will take effect on June 1, 2024. There are no deletions from current law noted in the text of the bill, indicating that the existing provisions remain intact while the new legal language serves to extend the Board's authority and operations.