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1995 SESSION

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SB 726 Cancelling insurance policy at time of refinancing.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY:

Cancelling insurance policy at time of refinancing. Prohibits any person from cancelling an insurance policy protecting property at the time of refinancing solely to change the effective dates of coverage under the policy, unless the expiration date of the policy is within four months of the date of the closing. The bill permits a lender to request a new policy when the coverage under the existing policy is inadequate or there is reasonable concern over the soundness or services of the insurer.

FULL TEXT

• 01/12/95  Senate: Presented & ordered printed LD0676633  pdf
• 01/23/95  Senate: Committee substitute printed LD4722633-S1  pdf
• 02/23/95  Senate: Bill text as passed Senate and House (SB726ER)  pdf
• 03/17/95  Governor: Acts of Assembly Chapter text (CHAP0175)  pdf

HISTORY

• 01/12/95  Senate: Presented & ordered printed LD0676633
• 01/12/95  Senate: Referred to Committee on Commerce and Labor
• 01/23/95  Senate: Reported from C. & L. with substitute (15-Y 0-N)
• 01/23/95  Senate: Committee substitute printed LD4722633-S1
• 01/24/95  Senate: Constitutional reading dispensed (40-Y 0-N)
• 01/24/95  Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
• 01/25/95  Senate: Read second time
• 01/25/95  Senate: Reading of substitute waived
• 01/25/95  Senate: Committee substitute agreed to LD4722633-S1
• 01/25/95  Senate: Engrossed by Senate - comm. sub. LD4722633-S1
• 01/26/95  Senate: Read third time and passed Senate (39-Y 0-N)
• 01/26/95  Senate: VOTE: PASSAGE (39-Y 0-N)
• 01/26/95  Senate: Communicated to House
• 01/27/95  House: Placed on Calendar
• 01/30/95  House: Read first time
• 01/30/95  House: Referred to Committee on Corporations, Insurance and Banking
• 02/14/95  House: Reported from Corp., Ins. & Banking (21-Y 0-N)
• 02/15/95  House: Read second time
• 02/16/95  House: Read third time
• 02/16/95  House: Passed House (Block Vote) (100-Y 0-N)
• 02/16/95  House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
• 02/23/95  Senate: Bill text as passed Senate and House (SB726ER)
• 02/28/95  Senate: Enrolled
• 03/01/95  Senate: Signed by President
• 03/02/95  House: Signed by Speaker
• 03/14/95  Governor: Approved by Governor-Chapter 175 (effective 7/1/95)
• 03/17/95  Governor: Acts of Assembly Chapter text (CHAP0175)