SENATE BILL 600

Sponsored By:

Senator Astle

Entitled:

Life Insurers - Board of Directors - Investments Practices

Synopsis:

Repealing a provision of law related to investment and loan practices of life insurers; requiring the board of directors of a life insurer to adopt a specified plan for acquiring and holding investments and engaging in investment practices; requiring the plan to specify guidelines related to the investment and financial needs of a life insurer; etc.

History by Legislative Date

Senate Action

2/5

First Reading Senate Rules

2/7

Re-referred Finance

2/10

Hearing 2/28 at 1:00 p.m.

3/17

Favorable with Amendments Report by Finance

3/18

Favorable with Amendments Report Adopted

Second Reading Passed with Amendments

3/20

Third Reading Passed (46-0)

3/31

Returned Passed

5/22

Governor vetoed - Cross-filed bill was signed

House Action

3/20

First Reading Health and Government Operations

3/25

Hearing 3/28 at 1:00 p.m.

3/31

Favorable Report by Health and Government Operations

3/27

Favorable Report Adopted

Second Reading Passed

3/28

Third Reading Passed (139-0)

Bill indexed under the following Subjects:

INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS

INVESTMENTS -see also- SECURITIES

Bill affects the following Statutes:

Insurance

( 5-505 , 5-511 , 5-511 , 5-511 , 5-511 )

Documents:

Bill Text: First Reading (PDF), Third Reading (PDF), Enrolled

Fiscal Note: Available (PDF)

Amendments:

Senate

Number: 737777/01 (PDF)     Offered on: March 18, 2003   at: 11:36 a.m.     Status: Adopted

Roll Call Votes (Legislative dates are shown):

Senate

March 20, 2003: Third Reading Passed (46-0)

House

March 28, 2003: Third Reading Passed (139-0)