SENATE BILL 601

Sponsored By:

Senator Astle

Entitled:

Life Insurance - Separate Investment Accounts - Asset Holding Requirements

Synopsis:

Requiring life insurers that offer specified investment accounts to hold assets that equal or exceed specified reserve requirements; requiring that assets held for specified investment accounts be valued in accordance with specified provisions of the Insurance Article; etc.

History by Legislative Date

Senate Action

2/5

First Reading Senate Rules

2/7

Re-referred Finance

2/10

Hearing 2/28 at 1:00 p.m.

3/17

Favorable Report by Finance

3/18

Favorable Report Adopted

Second Reading Passed

3/20

Third Reading Passed (46-0)

4/2

Returned Passed

4/22

Signed by the Governor Chapter 106

House Action

3/20

First Reading Health and Government Operations

3/25

Hearing 3/28 at 1:00 p.m.

4/2

Favorable Report by Health and Government Operations

3/29

Favorable Report Adopted

Second Reading Passed

3/30

Third Reading Passed (136-0)

Bill indexed under the following Subjects:

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

INVESTMENTS -see also- SECURITIES

Bill affects the following Statute:

Insurance

( 5-512 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered

Roll Call Votes (Legislative dates are shown):

Senate

March 20, 2003: Third Reading Passed (46-0)

House

March 30, 2003: Third Reading Passed (136-0)