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Legislation


2005 Regular Session

HOUSE BILL 666

CHAPTER NUMBER: 568 File Code: Insurance - Other than Health Crossfiled with: SENATE BILL 580
Sponsored By:
Delegates Hammen and Donoghue
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 any 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

House Action
2/7
First Reading Economic Matters
2/9
Hearing 2/22 at 1:00 p.m.
3/21
Favorable Report by Economic Matters
Favorable Report Adopted
Second Reading Passed
3/22
Third Reading Passed (135-0)
4/2
Returned Passed
Senate Action
3/22
First Reading Finance
3/28
Hearing 4/1 at 1:00 p.m.
4/4
Favorable Report by Finance
4/3
Favorable Report Adopted
Second Reading Passed
4/4
Third Reading Passed (46-0)
Action after passage in House and Senate
5/26
Signed by the Governor Chapter 568

Sponsored by:

Delegate Peter A. Hammen, District 46
Delegate John P. Donoghue, District 2C

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: None offered
Roll Call Votes (Legislative dates are shown):
House
March 22, 2005: Third Reading Passed (135-0)
Senate
April 4, 2005: Third Reading Passed (46-0)
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