1999 Regular Session

SENATE BILL 518

File Code: Insurance - Liability and Miscellaneous Crossfiled with: HOUSE BILL 230
Sponsored By:
Senator Astle
Entitled:
Mutual Insurance Holding Company Act

Synopsis:

Authorizing a mutual insurer to reorganize as a stock insurer and to establish a mutual insurance holding company to hold the capital stock of the reorganized stock insurer; specifying the conditions under which a mutual insurer may reorganize as a stock insurer and establish a mutual insurance holding company; requiring the approval of the plan of reorganization by the board of directors and members of the mutual insurer; requiring the mutual insurer to submit to the Commissioner a plan of reorganization together with other information; etc.

History by Legislative Date

Senate Action
2/5
First Reading Finance
2/9
Hearing 3/2 at 1:00 p.m.
3/29
Unfavorable Report by Finance
House Action
No Action
Bill indexed under the following Subjects:
COMMITTEES AND COMMISSIONS -see also- POLITICAL COMMITTEES
CORPORATIONS -see also- MERGERS; MUNICIPAL CORPORATIONS
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
RULES AND REGULATIONS
SECURITIES
Bill affects the following Statute:
Insurance
( 3-121.1 )

Documents:

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

Amendments: None offered