2002 Regular Session

HOUSE BILL 726

CHAPTER NUMBER: 80 File Code: Insurance - Other than Health Crossfiled with: SENATE BILL 366
Sponsored By:
Delegate Barve
Entitled:
Insurance - Surplus Lines Brokers - Disclosure and Notification Requirements

Synopsis:

Repealing a provision that permits surplus lines brokers to recover the cost of inspection for the placement of surplus lines insurance if the surplus lines brokers do not have a financial interest in and do not receive compensation from the person that performs the inspection; requiring surplus lines brokers to make clear and conspicuous written disclosures of specified compensation and any financial interest in the person performing an inspection; etc.

History by Legislative Date

House Action
2/6
First Reading Economic Matters
2/13
Hearing 2/27 at 1:00 p.m.
3/18
Favorable with Amendments Report by Economic Matters
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/20
Third Reading Passed (139-0)
4/1
Returned Passed
4/9
Signed by the Governor Chapter 80
Senate Action
3/21
First Reading Finance
Hearing 3/27 at 1:00 p.m.
4/1
Favorable Report by Finance
3/31
Favorable Report Adopted
Second Reading Passed
4/1
Third Reading Passed (47-0)
Bill indexed under the following Subjects:
AGENTS AND BROKERS
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
DISCLOSURE
INSPECTIONS -see also- MOTOR VEHICLE INSPECTION
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
NOTICES
Bill affects the following Statute:
Insurance
( 27-216 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
House
Number: 273990/1 (PDF)     Offered on: March 18, 2002   at: 6:29 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 20, 2002: Third Reading Passed (139-0)
Senate
April 1, 2002: Third Reading Passed (47-0)