HOUSE BILL 1236

Sponsored By:

Delegate Donoghue

Entitled:

Mutual Insurers - Conversion to Stock Insurers

Synopsis:

Altering the manner in which mutual insurers may convert to stock insurers in the State; repealing the mandatory hearing requirement before the Maryland Insurance Commissioner may approve a conversion plan under specified circumstances; requiring a conversion plan to include specified provisions concerning a holder of a surplus note participating in the conversion under specified circumstances; requiring the Commissioner to approve or disapprove a conversion plan within a specified period of time; etc.

Legislative History

House Action

2/13

First Reading Economic Matters

Hearing 3/4 at 1:00 p.m.

3/12

Favorable with Amendments Report by Economic Matters

3/13

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/17

Third Reading Passed (136-0)

3/31

House Concur - Senate Amendments

Third Reading Passed (131-0)

Passed Enrolled

4/8

Signed by the Governor Chapter 108

Senate Action

3/18

First Reading Finance

3/19

Hearing 3/26 at 1:00 p.m.

3/31

Favorable with Amendments Report by Finance

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

4/2

Third Reading Passed with Amendments (45-2)

Bill indexed under the following Subjects:

CORPORATIONS -see also- MERGERS

HEARINGS

INSURANCE ADMINISTRATION

INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS

NOTICES

RULES AND REGULATIONS

SECURITIES

Bill affects the following Statutes:

Insurance

( 3-121 )

Article - 48A Insurance Code

( 270 )

Documents:

Bill Text:

First Reading (PDF), Third Reading (PDF), Enrolled (PDF)

Fiscal Note: Available (PDF)

Amendments:

House

Number: 253062/1 (PDF) Offered on: MARCH 13, 1997 at: 10:26 Status: Adopted

Senate

Number: 797447/1 (PDF) Offered on: MARCH 31, 1997 at: 21:28 Status: Adopted