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1996 SESSION
SB 225 Domestic insurance reciprocals.
Introduced by: Richard J. Holland | all patrons ... notes | add to my profiles
SUMMARY:
Insurance; domestic reciprocals. Requires a domestic reciprocal or its affiliates to obtain the prior written approval of the State Corporation Commission when making a material transaction with certain other parties when the transaction involves more than five percent of the reciprocal's admitted assets. The bill defines "material transaction" and "affiliate." Under the bill's provisions, all other material transactions involving more than 0.5 percent of the reciprocal's admitted assets between such parties must be disclosed to the SCC within 15 days after the end of the month in which the transaction occurs. The bill also requires domestic reciprocals to provide confidential audited reports of their attorney's financial position.
FULL TEXT
- 01/18/96 Senate: Presented & ordered printed 965784681 pdf
- 02/12/96 Senate: Committee substitute printed 960665681-S1 pdf
- 03/01/96 Senate: Bill text as passed Senate and House (SB225ER) pdf
- 03/28/96 Governor: Acts of Assembly Chapter text (CHAP0304) pdf
HISTORY
- 01/18/96 Senate: Presented & ordered printed 965784681
- 01/18/96 Senate: Referred to Committee on Commerce and Labor
- 02/12/96 Senate: Reported from C. & L. with substitute (15-Y 0-N)
- 02/12/96 Senate: Committee substitute printed 960665681-S1
- 02/13/96 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/13/96 Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
- 02/13/96 Senate: Read second time
- 02/13/96 Senate: Reading of substitute waived
- 02/13/96 Senate: Committee substitute agreed to 960665681-S1
- 02/13/96 Senate: Engrossed by Senate - comm. sub. 960665681-S1
- 02/13/96 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/13/96 Senate: VOTE: CONST. READING DISPENSED (40-Y 0-N)
- 02/13/96 Senate: Passed Senate (38-Y 0-N 1-A)
- 02/13/96 Senate: VOTE: PASSAGE (38-Y 0-N 1-A)
- 02/13/96 Senate: Communicated to House
- 02/14/96 House: Placed on Calendar
- 02/15/96 House: Read first time
- 02/15/96 House: Referred to Committee on Corporations, Insurance and Banking
- 02/20/96 House: Reported from Corp., Ins. & Banking (22-Y 0-N)
- 02/21/96 House: Read second time
- 02/22/96 House: Read third time
- 02/22/96 House: Passed House (Block Vote) (100-Y 0-N)
- 02/22/96 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 03/01/96 Senate: Bill text as passed Senate and House (SB225ER)
- 03/11/96 Senate: Enrolled
- 03/11/96 House: Signed by Speaker
- 03/11/96 Senate: Signed by President
- 03/22/96 Governor: Approved by Governor-Chapter 304 (effective 7/1/96)
- 03/28/96 Governor: Acts of Assembly Chapter text (CHAP0304)