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Legislation


1999 Regular Session

HOUSE BILL 230

File Code: Insurance - Liability and Miscellaneous Crossfiled with: SENATE BILL 518
Sponsored By:
Delegate Donoghue
Entitled:
Mutual Insurance Holding Company Act

Synopsis:

Authorizing a mutual insurer to reorganize as a stock insurer and to establish a mutual insurance holding company to hold the capital stock of the reorganized stock insurer; specifying the conditions under which a mutual insurer may reorganize as a stock insurer and establish a mutual insurance holding company; requiring the approval of the plan of reorganization by the board of directors and members of the mutual insurer; requiring the mutual insurer to submit to the Commissioner a plan of reorganization together with other information; etc.

History by Legislative Date

House Action
2/1
First Reading Economic Matters
Hearing 2/11 at 1:00 p.m.
3/9
Unfavorable Report by Economic Matters
Senate Action
No Action
Bill indexed under the following Subjects:
COMMITTEES AND COMMISSIONS -see also- POLITICAL COMMITTEES
CORPORATIONS -see also- MERGERS; MUNICIPAL CORPORATIONS
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
RULES AND REGULATIONS
SECURITIES
Bill affects the following Statute:
Insurance
( 3-121.1 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)

Amendments: None offered
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