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Legislation


2000 Regular Session

HOUSE BILL 979

CHAPTER NUMBER: 661 File Code: Insurance - Other than Health
Sponsored By:
Delegate Busch
Entitled:
Insurance - Regulation of Extraordinary Dividends and Distributions

Synopsis:

Altering the circumstances under which a dividend or distribution of cash or other property by a specified insurer is considered extraordinary; providing that the insurer may not pay an extraordinary dividend or make a distribution except under specified circumstances; and clarifying that specified provisions regulating transactions within insurance holding company systems apply to specified insurers.

History by Legislative Date

House Action
2/11
First Reading Economic Matters
2/16
Hearing 3/2 at 1:00 p.m.
3/13
Favorable Report by Economic Matters
3/14
Favorable Report Adopted
Second Reading Passed
3/17
Third Reading Passed (138-0)
4/4
House Concur - Senate Amendments
Third Reading Passed (137-0)
Passed Enrolled
5/18
Signed by the Governor Chapter 661
Senate Action
3/20
First Reading Finance
3/21
Hearing 3/28 at 1:00 p.m.
4/3
Favorable with Amendments Report by Finance
4/2
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
4/3
Third Reading Passed with Amendments (45-0)
Bill indexed under the following Subjects:
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
INVESTMENTS -see also- SECURITIES
NOTICES
Bill affects the following Statutes:
Insurance
( 7-701 , 7-706 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled (PDF)
Fiscal Note: Available (PDF)
Amendments:
Senate
Number: 407675/1 (PDF)     Offered on: April 3, 2000   at: 10:38 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
House
March 17, 2000: Third Reading Passed (138-0)
April 4, 2000: Third Reading Passed (137-0)
Senate
April 3, 2000: Third Reading Passed (45-0)
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