The notion of an algebraic semantics of a deductive system was proposed in , and a preliminary study was begun. The focus of  was the definition and investigation of algebraizable deductive systems, i.e., the deductive systems that possess an equivalent algebraic semantics. The present paper explores the more general property of possessing an algebraic semantics. While a deductive system can have at most one equivalent algebraic semantics, it may have numerous different algebraic semantics. All of these give rise to an algebraic completeness theorem for the deductive system, but their algebraic properties, unlike those of equivalent algebraic semantics, need not reflect the metalogical properties of the deductive system. Many deductive systems that don't have an equivalent algebraic semantics do possess an algebraic semantics; examples of these phenomena are provided. It is shown that all extensions of a deductive system that possesses an algebraic semantics themselves possess an algebraic semantics. Necessary conditions for the existence of an algebraic semantics are given, and an example of a protoalgebraic deductive system that does not have an algebraic semantics is provided. The mono-unary deductive systems possessing an algebraic semantics are characterized. Finally, weak conditions on a deductive system are formulated that guarantee the existence of an algebraic semantics. These conditions are used to show that various classes of non-algebraizable deductive systems of modal logic, relevance logic and linear logic do possess an algebraic semantics.