HOUSE BILL 1429

Sponsored By:

Delegate Cummings

Entitled:

Property and Casualty Insurance Guaranty Corporation - Obligations

Synopsis:

Excluding from the definition of "covered claim" claims by insureds with a net worth exceeding $50,000,000; providing that any obligation of the Property and Casualty Insurance Guaranty Corporation to defend an insured ceases on payment of a specified amount; providing that any obligation of the Corporation ceases when $10,000,000 has been paid by the Corporation and specified other entities on claims arising under policies of one insolvent insurer; authorizing the Corporation to allocate specified amounts payable in an equitable manner; etc.

Legislative History

House Action

2/27

First Reading House Rules

3/4

Re-referred Economic Matters

3/5

Hearing 3/13 at 1:00 p.m.

4/4

Favorable with Amendments Report by Economic Matters

3/29

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/30

Third Reading Passed (132-2)

Senate Action

4/3

First Reading Senate Rules

4/6

Re-referred Finance

4/8

Favorable with Amendments Report by Finance

4/5

Favorable with Amendments

Special Order later (Sen. Dyson) Adopted

Bill indexed under the following Subject:

INSURANCE-GENERAL

Bill affects the following Statutes:

Insurance

( 9-301 , 9-310.1 )

Article - 48A Insurance Code

( 505 , 513 )

Documents:

Bill Text:

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

Fiscal Note: Available (PDF)

Amendments:

House

Number: 113255/1 (PDF) Offered on: APRIL 4, 1996 at: 10:29 Status: Adopted

Senate

Number: 407236/1 (PDF) Offered on: APRIL 8, 1996 at: 19:39 Status: Special Ordered