2005 Regular Session

SENATE BILL 580

File Code: Insurance - Other than Health Crossfiled with: HOUSE BILL 666
Sponsored By:
Senators Gladden, Kelley, Klausmeier, Hooper, and Middleton
Entitled:
Insurance - Delinquency Proceedings Against Insolvent Insurers - Financial Contracts

Synopsis:

Providing that a person may not be stayed or otherwise prohibited from exercising specified rights in delinquency proceedings brought under specified provisions of law against specified insurers; requiring specified net or settlement amounts due to an insurer subject to a specified delinquency proceeding to be transferred to or on the order of the receiver for the insurer; specifying the manner in which a receiver in a delinquency proceeding must transfer specified netting agreements and qualified financial contracts; etc.

History by Legislative Date

Senate Action
2/4
First Reading Finance
2/7
Hearing 2/22 at 1:00 p.m.
3/8

Favorable with Amendments Report by Finance
3/9
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/11
Third Reading Passed (46-0)
4/5
Returned Passed
House Action
3/14
First Reading Economic Matters
3/23
Hearing 3/30 at 1:00 p.m.
4/6
Favorable Report by Economic Matters
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (136-0)
Action after passage in Senate and House
5/26
Governor vetoed - Cross-filed bill was signed

Sponsored by:

Senator Lisa A. Gladden, District 41
Senator J. Robert Hooper, District 35
Senator Delores G. Kelley, District 10
Senator Katherine Klausmeier, District 8
Senator Thomas M. Middleton, District 28

Bill indexed under the following Subjects:

BANKRUPTCY
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
DAMAGES
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
NOTICES

Bill affects the following Statute:

Insurance
( 9-229.1 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments (Displayed in WordPerfect 8 Format):
Senate
Number: 137378/01 (PDF)     Offered on: March 9, 2005   at: 11:05 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 11, 2005: Third Reading Passed (46-0)
House
April 2, 2005: Third Reading Passed (136-0)