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1995 SESSION

• | print version

HJ 497 Study; investment contracts sold by insurance companies.

Introduced by: Harvey B. Morgan | all patrons    ...    notes | add to my profiles

SUMMARY:

Study; insurance guaranty fund and coverage of insurer-issued guaranteed investment contracts. Requests the Bureau of Insurance of the State Corporation Commission to study means to protect Virginians' pensions funded by guaranteed investment contracts sold by insurance companies. The Bureau would: (i) review actions taken or recommended in other states to protect the pension funds of their citizens invested in GICs, (ii) determine whether GICs should be brought within the Virginia Life, Accident and Sickness Insurance Guaranty Association's coverage obligations, and (iii) decide whether mandatory, presale disclosures about GICs' uninsured nature should be required in connection with the sale of GICs to Virginia's citizens and companies.

FULL TEXT

• 01/19/95  House: Presented & ordered printed LD3377364  pdf
• 02/03/95  House: Committee substitute printed LD3708364-H1  pdf

HISTORY

• 01/19/95  House: Presented & ordered printed LD3377364
• 01/19/95  House: Referred to Committee on Rules
• 01/27/95  House: Assigned to Rules sub-committee: 3
• 02/02/95  House: Reported from Rules with substitute (10-Y 0-N)
• 02/03/95  House: Committee substitute printed LD3708364-H1
• 02/04/95  House: Committee substitute agreed to LD3708364-H1
• 02/04/95  House: Engrossed by House - com. sub. LD3708364-H1
• 02/04/95  House: Agreed to by House (Block Vote) (100-Y 0-N)
• 02/04/95  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/04/95  House: Communicated to Senate
• 02/06/95  Senate: Read first time
• 02/06/95  Senate: Referred to Committee on Rules
• 02/21/95  Senate: Left in Rules