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1995 SESSION

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SB 733 Insurance; financial regulation of insurers.

Introduced by: Clarence A. Holland | all patrons    ...    notes | add to my profiles

SUMMARY:

Insurance; financial regulation of insurers. Amends provisions in the insurance title (38.2) concerning the Virginia State Corporation Commission's (SCC) financial regulation of insurers as follows: (i) requires assets placed on deposit with the State Treasurer by a domestic insurer to be disbursed pursuant to provisions in Chapter 15 of Title 38.2 whenever an insurer is placed in receivership and an order of liquidation, conservation or rehabilitation is issued as provided in such chapter; (ii) clarifies provisions authorizing insurers to invest in subsidiaries; and (iii) authorizes the SCC to require the Basic Property Insurance Residual Market Facility and Joint Underwriting Association to file annual financial statements.

FULL TEXT

• 01/12/95  Senate: Presented & ordered printed LD3396845  pdf
• 02/14/95  Senate: Bill text as passed Senate and House (SB733ER)  pdf
• 03/10/95  Governor: Acts of Assembly Chapter text (CHAP0060)  pdf

HISTORY

• 01/12/95  Senate: Presented & ordered printed LD3396845
• 01/12/95  Senate: Referred to Committee on Commerce and Labor
• 01/16/95  Senate: Reported from Commerce and Labor (15-Y 0-N)
• 01/17/95  Senate: Constitutional reading dispensed (39-Y 0-N)
• 01/17/95  Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
• 01/18/95  Senate: Read second time and engrossed
• 01/19/95  Senate: Read third time and passed Senate (39-Y 0-N)
• 01/19/95  Senate: VOTE: PASSAGE (39-Y 0-N)
• 01/19/95  Senate: Communicated to House
• 01/20/95  House: Placed on Calendar
• 01/23/95  House: Read first time
• 01/23/95  House: Referred to Committee on Corporations, Insurance and Banking
• 02/09/95  House: Reported from Corp., Ins. & Banking (21-Y 0-N)
• 02/10/95  House: Read second time
• 02/13/95  House: Read third time
• 02/13/95  House: Passed House (Block Vote) (99-Y 0-N)
• 02/13/95  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
• 02/14/95  Senate: Bill text as passed Senate and House (SB733ER)
• 02/21/95  Senate: Enrolled
• 02/22/95  House: Signed by Speaker
• 02/23/95  Senate: Signed by President
• 03/07/95  Governor: Approved by Governor-Chapter 60 (effective 7/1/95)
• 03/10/95  Governor: Acts of Assembly Chapter text (CHAP0060)