1996 Regular Session

HOUSE BILL 1429

File Code: Insurance - Liability and Miscellaneous
Sponsored By:
Delegate Cummings
Entitled:
Property and Casualty Insurance Guaranty Corporation - Obligations

Synopsis:

Excluding from the definition of "covered claim" claims by insureds with a net worth exceeding $50,000,000; providing that any obligation of the Property and Casualty Insurance Guaranty Corporation to defend an insured ceases on payment of a specified amount; providing that any obligation of the Corporation ceases when $10,000,000 has been paid by the Corporation and specified other entities on claims arising under policies of one insolvent insurer; authorizing the Corporation to allocate specified amounts payable in an equitable manner; etc.

Legislative History

House Action
2/27
First Reading House Rules
3/4
Re-referred Economic Matters
3/5
Hearing 3/13 at 1:00 p.m.
4/4
Favorable with Amendments Report by Economic Matters
3/29
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/30
Third Reading Passed (132-2)
Senate Action
4/3
First Reading Senate Rules
4/6
Re-referred Finance
4/8
Favorable with Amendments Report by Finance
4/5
Favorable with Amendments
Special Order later (Sen. Dyson) Adopted
Bill indexed under the following Subject:
INSURANCE-GENERAL
Bill affects the following Statutes:
Insurance
( 9-301 , 9-310.1 )
Article - 48A Insurance Code
( 505 , 513 )

Documents:

Bill Text:
First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)

Amendments:
House
Number: 113255/1 (PDF) Offered on: APRIL 4, 1996 at: 10:29 Status: Adopted
Senate
Number: 407236/1 (PDF) Offered on: APRIL 8, 1996 at: 19:39 Status: Special Ordered