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Legislation


1999 Regular Session

HOUSE BILL 273

File Code: Insurance - Health and Life Crossfiled with: SENATE BILL 189
Sponsored By:
Delegate Donoghue
Entitled:
Life Insurers - Reserve Investments

Synopsis:

Authorizing the reserve investments of life insurers to include residential real estate loans in an amount not exceeding 95% of the fair market value of the real estate under specified circumstances; prohibiting a life insurer from placing more than 3% of its admitted assets in specified loans; etc.

History by Legislative Date

House Action
2/3
First Reading Economic Matters
2/9
Hearing 2/23 at 1:00 p.m.
3/9

Favorable with Amendments Report by Economic Matters
3/10
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/12
Third Reading Passed (135-1)
3/30
Return Passed
5/27
Governor vetoed - Cross-filed bill was signed
Senate Action
3/15
First Reading Finance
3/16
Hearing 3/25 at 1:00 p.m.
3/31
Favorable Report by Finance
Favorable Report Adopted
Second Reading Passed
4/1
Third Reading Passed (46-0)
Bill indexed under the following Subjects:
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
INVESTMENTS -see also- SECURITIES
LOANS
REAL ESTATE -see also- AGENTS AND BROKERS
Bill affects the following Statute:
Insurance
( 5-511 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled
Fiscal Note: Available (PDF)
Amendments:
House
Number: 583982/1 (PDF)     Offered on: March 10, 1999   at: 10:20 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 12, 1999: Third Reading Passed (135-1)
Senate
April 1, 1999: Third Reading Passed (46-0)
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