2006 Regular Session

SENATE BILL 251

CHAPTER NUMBER: 514 File Code: Insurance - Other than Health Crossfiled with: HOUSE BILL 513
Sponsored By:
Senators Kelley and Gladden
Entitled:
Insurance - Loans and Advances Made to Stock Insurers and Mutual Insurers

Synopsis:

Repealing a specified limitation on the interest allowed on a specified loan or advance made to a stock insurer; requiring that the instrument evidencing a specified loan or advance be approved in a specified manner by the Maryland Insurance Commissioner; providing that a specified loan or advance and any interest on it made to a mutual insurer is payable only out of the surplus remaining after the mutual insurer provides for all reserves and other liabilities; etc.

History by Legislative Date

Senate Action
1/25
First Reading Finance
Hearing 1/31 at 1:30 p.m.
2/10
Favorable with Amendments Report by Finance
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
2/14
Third Reading Passed (43-0)
4/3
Returned Passed
House Action
2/15
First Reading Economic Matters
3/14
Hearing 3/22 at 1:00 p.m.
4/5
Favorable Report by Economic Matters
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (135-0)
Action after passage in Senate and House
5/26
Became Law without Governor's signature per Maryland Constitution - Chapter 514

Sponsored by:

Senator Delores G. Kelley, District 10
Senator Lisa A. Gladden, District 41

Bill indexed under the following Subjects:

INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
INTEREST
LOANS -see also- MORTGAGES
SECURITIES

Bill affects the following Statute:

Insurance
( 3-116 )

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: 307073/01 (PDF)     Offered on: February 10, 2006   at: 11:31 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
February 14, 2006: Third Reading Passed (43-0)
House
April 2, 2006: Third Reading Passed (135-0)