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2010 SESSION

• | print version

HB 28 Credit default insurance; definition.

Introduced by: Robert G. Marshall | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Credit default insurance.  Establishes requirements for the conduct within the Commonwealth of the business of credit default insurance. The measure prohibits “naked” credit default swaps and establishes a regulatory framework for “covered swaps" and the credit default insurance market. The measure is based on model legislation adopted by the National Conference of Insurance Legislators. Elements include requirements regarding company licensing; contingency, loss, and unearned premium reserves; policy forms and rates; and reinsurance.

FULL TEXT

• 12/18/09  House: Prefiled and ordered printed; offered 01/13/10 10100494D  pdf | impact statement

HISTORY

• 12/18/09  House: Prefiled and ordered printed; offered 01/13/10 10100494D
• 12/18/09  House: Referred to Committee on Commerce and Labor
• 01/19/10  House: Assigned C & L sub: #2
• 02/04/10  House: Subcommittee recommends passing by indefinitely (11-Y 0-N)
• 02/16/10  House: Left in Commerce and Labor