2000 Regular Session

SENATE BILL 148

File Code: Insurance - Other than Health Prior Year Introduction As: SB 518/99 - FIN Crossfiled with: HOUSE BILL 119
Sponsored By:
Senator Astle
Entitled:
Mutual Insurance Holding Company Act

Synopsis:

Establishing a process by which a mutual insurance company can convert to a stock insurer and form a mutual insurance holding company; requiring mutual insurers that wish to use this process to convert in accordance with a plan of reorganization; requiring a plan of reorganization to contain specified provisions; providing membership rights to specified policyholders; providing for the application of mutual insurance policy terms and conditions after a reorganization; etc.

History by Legislative Date

Senate Action
1/19
First Reading Finance
Hearing 2/1 at 1:00 p.m.
1/24
Hearing cancelled
Hearing 2/1 at 1:30 p.m.
2/14
Favorable with Amendments Report by Finance
2/15
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
2/17
Third Reading Passed (47-0)
4/1
Returned Passed
5/19
Governor vetoed - Cross-filed bill was signed
House Action
2/18
First Reading Economic Matters
3/22
Hearing 3/29 at 1:00 p.m.
3/30
Favorable Report by Economic Matters
3/28
Favorable Report Adopted
Second Reading Passed
3/29
Third Reading Passed (136-0)
Bill indexed under the following Subjects:
CORPORATIONS -see also- MUNICIPAL CORPORATIONS
HEARINGS
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
RULES AND REGULATIONS
SECURITIES
Bill affects the following Statutes:
Insurance
( 3-121.1 , 7-103 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
Senate
Number: 577379/1 (PDF)     Offered on: February 15, 2000   at: 10:46 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
February 17, 2000: Third Reading Passed (47-0)
House
March 29, 2000: Third Reading Passed (136-0)