1997 Regular Session

SENATE BILL 440

File Code: Insurance - Liability and Miscellaneous
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