SENATE BILL 440

Sponsored By:

Senator Della

Entitled:

Title Insurers - Reserves

Synopsis:

Requiring insurers to alter the amount of unearned premium reserves if they are inadequate; altering the formula used by title insurers to calculate reserves applicable to contracts; requiring that specified reserves be recalculated in accordance with the altered formula; specifying the disposition of any excess reserves resulting from a recalculation; and requiring title insurers to file an actuarial certification in a specified manner.

Legislative History

Senate Action

1/29

First Reading Finance

Hearing 2/18 at 1:00 p.m.

1/31

Hearing cancelled

Hearing 2/25 at 1:00 p.m.

3/3

Favorable with Amendments Report by Finance

3/4

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/6

Third Reading Passed (42-1)

4/2

Senate Concur - House Amendment

Third Reading Passed (47-0)

Passed Enrolled

5/22

Governor vetoed - Duplicative

House Action

3/7

First Reading Economic Matters

3/20

Hearing 3/25 at 1:00 p.m.

3/28

Favorable with Amendments Report by Economic Matters

3/26

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/27

Third Reading Passed with Amendments (135-0)

Bill indexed under the following Subjects:

INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS

REPORTS -see also- RECORDS

TITLES

Bill affects the following Statutes:

Insurance

( 5-202 , 5-206 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled (PDF)

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 447941/1 (PDF) Offered on: MARCH 4, 1997 at: 11:16 Status: Adopted

House

Number: 853167/1 (PDF) Offered on: MARCH 28, 1997 at: 10:31 Status: Adopted