1997 Regular Session

HOUSE BILL 1236

CHAPTER NUMBER: 108
EMERGENCY BILL
File Code: Insurance - Liability and Miscellaneous
Sponsored By:
Delegate Donoghue
Entitled:
Mutual Insurers - Conversion to Stock Insurers

Synopsis:

Altering the manner in which mutual insurers may convert to stock insurers in the State; repealing the mandatory hearing requirement before the Maryland Insurance Commissioner may approve a conversion plan under specified circumstances; requiring a conversion plan to include specified provisions concerning a holder of a surplus note participating in the conversion under specified circumstances; requiring the Commissioner to approve or disapprove a conversion plan within a specified period of time; etc.

Legislative History

House Action
2/13
First Reading Economic Matters
Hearing 3/4 at 1:00 p.m.
3/12
Favorable with Amendments Report by Economic Matters
3/13
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/17
Third Reading Passed (136-0)
3/31
House Concur - Senate Amendments
Third Reading Passed (131-0)
Passed Enrolled
4/8
Signed by the Governor Chapter 108
Senate Action
3/18
First Reading Finance
3/19
Hearing 3/26 at 1:00 p.m.
3/31
Favorable with Amendments Report by Finance
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/2
Third Reading Passed with Amendments (45-2)
Bill indexed under the following Subjects:
CORPORATIONS -see also- MERGERS
HEARINGS
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
NOTICES
RULES AND REGULATIONS
SECURITIES
Bill affects the following Statutes:
Insurance
( 3-121 )
Article - 48A Insurance Code
( 270 )

Documents:

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

Amendments:
House
Number: 253062/1 (PDF) Offered on: MARCH 13, 1997 at: 10:26 Status: Adopted
Senate
Number: 797447/1 (PDF) Offered on: MARCH 31, 1997 at: 21:28 Status: Adopted