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2012 SESSION
SB 120 Risk-Based Capital Act; way to measure minimum capital appropriate for insurer based on size & risk.
Introduced by: Yvonne B. Miller | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Risk-Based Capital Act. Applies the Risk-Based Capital Act, which provides a way of measuring the minimum amount of capital appropriate for an insurer based on its size and risk profile, to fraternal benefit societies. Other provisions make trend test requirements consistent among life and health, property and casualty, and health organizations. The life and health insurers' trend test is increased from 2.5 to 3.0 to be consistent with the trend tests for property and casualty and health insurers. A trend test is added for health organizations.
FULL TEXT
- 01/10/12 Senate: Prefiled and ordered printed; offered 01/11/12 12103247D pdf | impact statement
- 02/23/12 Senate: Bill text as passed Senate and House (SB120ER) pdf | impact statement
- 03/07/12 Governor: Acts of Assembly Chapter text (CHAP0156) pdf
HISTORY
- 01/10/12 Senate: Prefiled and ordered printed; offered 01/11/12 12103247D
- 01/10/12 Senate: Referred to Committee on Commerce and Labor
- 01/16/12 Senate: Reported from Commerce and Labor (16-Y 0-N)
- 01/18/12 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/19/12 Senate: Read second time and engrossed
- 01/20/12 Senate: Bills placed in block (39-Y 0-N)
- 01/20/12 Senate: Read third time and passed Senate (38-Y 0-N)
- 01/20/12 Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N)
- 01/20/12 Senate: Passed Senate (39-Y 0-N)
- 02/13/12 House: Placed on Calendar
- 02/13/12 House: Read first time
- 02/13/12 House: Referred to Committee on Commerce and Labor
- 02/16/12 House: Reported from Commerce and Labor (22-Y 0-N)
- 02/20/12 House: Read second time
- 02/21/12 House: Read third time
- 02/21/12 House: Passed House BLOCK VOTE (100-0Y 0-N)
- 02/21/12 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/23/12 Senate: Enrolled
- 02/23/12 Senate: Bill text as passed Senate and House (SB120ER)
- 02/23/12 Senate: Signed by President
- 02/23/12 House: Signed by Speaker
- 03/07/12 Governor: Approved by Governor-Chapter 156 (effective 7/1/12)
- 03/07/12 Governor: Acts of Assembly Chapter text (CHAP0156)