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2015 SESSION

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SB 748 Insurance plans; provisions regulating hypothecation of assets.

Introduced by: John C. Watkins | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Insurance plans; hypothecation of assets. Applies provisions regulating the hypothecation of assets that currently apply to most insurers to health services plans, health maintenance organizations, and insurers offering dental or optometric services plans. The measure requires insurers to maintain a certain amount of free and unencumbered admitted assets and to report to the State Corporation Commission certain information regarding transactions encumbering assets. The measure also (i) removes inapplicable references to separate account requirements from the "sweep-in" provisions for health services plans and dental or optometric services plans and (ii) removes a moot reference to the licensing of agents from the "sweep-in" provision for legal services plans.

FULL TEXT

• 12/18/14  Senate: Prefiled and ordered printed; offered 01/14/15 15101313D  pdf | impact statement
• 02/16/15  Senate: Bill text as passed Senate and House (SB748ER)  pdf | impact statement
• 02/26/15  Governor: Acts of Assembly Chapter text (CHAP0014)  pdf

HISTORY

• 12/18/14  Senate: Prefiled and ordered printed; offered 01/14/15 15101313D
• 12/18/14  Senate: Referred to Committee on Commerce and Labor
• 01/19/15  Senate: Reported from Commerce and Labor (13-Y 0-N)
• 01/21/15  Senate: Constitutional reading dispensed (38-Y 0-N)
• 01/22/15  Senate: Read second time and engrossed
• 01/23/15  Senate: Read third time and passed Senate (40-Y 0-N)
• 01/30/15  House: Placed on Calendar
• 01/30/15  House: Read first time
• 01/30/15  House: Referred to Committee on Commerce and Labor
• 02/10/15  House: Reported from Commerce and Labor (22-Y 0-N)
• 02/11/15  House: Read second time
• 02/12/15  House: Read third time
• 02/12/15  House: Passed House BLOCK VOTE (99-Y 0-N)
• 02/12/15  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
• 02/16/15  Senate: Enrolled
• 02/16/15  Senate: Bill text as passed Senate and House (SB748ER)
• 02/16/15  House: Signed by Speaker
• 02/19/15  Senate: Signed by President
• 02/20/15  Senate: Enrolled Bill Communicated to Governor on 2/20/15
• 02/20/15  Governor: Governor's Action Deadline Midnight, Friday, February 27, 2015
• 02/26/15  Governor: Approved by Governor-Chapter 14 (effective 7/1/15)
• 02/26/15  Governor: Acts of Assembly Chapter text (CHAP0014)