Legislation

Title: Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test
Sponsored by: Chair, Economic Matters Committee (By Request - Departmental - Maryland Insurance Administration)
Status: Approved by the Governor - Chapter 121
Analysis: Fiscal and Policy Note (Revised)

Synopsis

Requiring certain controlling persons of certain insurers in an insurance holding company system to file an annual group calculation as directed by the lead state commissioner of the insurance group; requiring certain controlling persons of certain insurers in an insurance holding company system to file the results of a liquidity stress test for specific data years; providing that certain information is confidential; and authorizing and requiring the Commissioner to take certain actions related to certain information.

Committees

Original:: Economic Matters Click to view Recorded Media

Opposite:: Finance Click to view Recorded Media

Committee Testimony

Witness List

Details

Bill File Type: Pre-Filed

Effective Date(s): October 1, 2024

By Request of the Governor

History

Legislation History
Chamber House Calendar Date 9/15/2023 Legislative Date 9/15/2023 Action Pre-filed Proceedings
Chamber House Calendar Date 1/10/2024 Legislative Date 1/10/2024 Action First Reading Economic Matters Proceedings
Chamber Calendar Date Legislative Date Action Text - First - Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test Proceedings
Chamber House Calendar Date 1/11/2024 Legislative Date 1/11/2024 Action Hearing 2/01 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - House - Committee - Economic Matters Proceedings Click to view Recorded Media
Chamber House Calendar Date 3/12/2024 Legislative Date 3/12/2024 Action Favorable with Amendments Report by Economic Matters Proceedings
Chamber House Calendar Date 3/12/2024 Legislative Date 3/01/2024 Action Favorable with Amendments {343024/1 Adopted Proceedings 40 Click to view Recorded Media
Chamber House Calendar Date 3/12/2024 Legislative Date 3/01/2024 Action Second Reading Passed with Amendments Proceedings 40 Click to view Recorded Media
Chamber Calendar Date Legislative Date Action Text - Third - Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test Proceedings
Chamber House Calendar Date 3/13/2024 Legislative Date 3/02/2024 Action Third Reading Passed (120-15) Proceedings 41 Click to view Recorded Media
Chamber Senate Calendar Date 3/14/2024 Legislative Date 2/29/2024 Action Referred Finance Proceedings 45 Click to view Recorded Media
Chamber Senate Calendar Date 3/15/2024 Legislative Date 3/15/2024 Action Hearing 3/19 at 1:00 p.m. Proceedings
Chamber Calendar Date Legislative Date Action Vote - Senate - Committee - Finance Proceedings Click to view Recorded Media
Chamber Senate Calendar Date 3/25/2024 Legislative Date 3/25/2024 Action Favorable Report by Finance Proceedings
Chamber Senate Calendar Date 3/26/2024 Legislative Date 3/11/2024 Action Favorable Adopted Proceedings 56 Click to view Recorded Media
Chamber Senate Calendar Date 3/26/2024 Legislative Date 3/11/2024 Action Second Reading Passed Proceedings 56 Click to view Recorded Media
Chamber Senate Calendar Date 3/27/2024 Legislative Date 3/12/2024 Action Third Reading Passed (36-10) Proceedings 57 Click to view Recorded Media
Chamber House Calendar Date 3/28/2024 Legislative Date 3/15/2024 Action Returned Passed Proceedings 54 Click to view Recorded Media
Chamber Post Passage Calendar Date 4/09/2024 Legislative Date 4/09/2024 Action Approved by the Governor - Chapter 121 Proceedings
Chamber Calendar Date Legislative Date Action Text - Chapter - Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test Proceedings

Chamber	Calendar Date	Legislative Date	Action	Proceedings
House	9/15/2023	9/15/2023	Pre-filed
House	1/10/2024	1/10/2024	First Reading Economic Matters
			Text - First - Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test
House	1/11/2024	1/11/2024	Hearing 2/01 at 1:00 p.m.
			Vote - House - Committee - Economic Matters	Click to view Recorded Media
House	3/12/2024	3/12/2024	Favorable with Amendments Report by Economic Matters
House	3/12/2024	3/01/2024	Favorable with Amendments {343024/1 Adopted	40 Click to view Recorded Media
House	3/12/2024	3/01/2024	Second Reading Passed with Amendments	40 Click to view Recorded Media
			Text - Third - Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test
House	3/13/2024	3/02/2024	Third Reading Passed (120-15)	41 Click to view Recorded Media
Senate	3/14/2024	2/29/2024	Referred Finance	45 Click to view Recorded Media
Senate	3/15/2024	3/15/2024	Hearing 3/19 at 1:00 p.m.
			Vote - Senate - Committee - Finance	Click to view Recorded Media
Senate	3/25/2024	3/25/2024	Favorable Report by Finance
Senate	3/26/2024	3/11/2024	Favorable Adopted	56 Click to view Recorded Media
Senate	3/26/2024	3/11/2024	Second Reading Passed	56 Click to view Recorded Media
Senate	3/27/2024	3/12/2024	Third Reading Passed (36-10)	57 Click to view Recorded Media
House	3/28/2024	3/15/2024	Returned Passed	54 Click to view Recorded Media
Post Passage	4/09/2024	4/09/2024	Approved by the Governor - Chapter 121
			Text - Chapter - Insurance - Holding Companies - Group Capital Calculation and Liquidity Stress Test

File Code

Subjects

Statutes