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Legislation


1999 Regular Session

SENATE BILL 189

CHAPTER NUMBER: 529 File Code: Insurance - Health and Life Crossfiled with: HOUSE BILL 273
Sponsored By:
Senator Bromwell
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; and prohibiting a life insurer from placing more than 3% of its admitted assets in loans in which the amount of the loan exceeds 90% of the fair market value of the security of the loan.

History by Legislative Date

Senate Action
2/1
First Reading Finance
2/3
Hearing 2/23 at 1:00 p.m.
3/1

Favorable with Amendments Report by Finance
3/3
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/5
Third Reading Passed (44-0)
4/5
Return Passed
5/27
Signed by the Governor Chapter 529
House Action
3/8
First Reading Economic Matters
3/17
Hearing 3/30 at 1:00 p.m.
4/2
Favorable Report by Economic Matters
3/31
Favorable Report Adopted
Second Reading Passed
4/1
Third Reading Passed (137-1)
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:
Senate
Number: 397060/1 (PDF)     Offered on: March 3, 1999   at: 10:21 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 5, 1999: Third Reading Passed (44-0)
House
April 1, 1999: Third Reading Passed (137-1)
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