Insurance holding companies; SCC to approve any ordinary dividend by a registered insurer. (SB1352)

Introduced By

Progress

✓	Introduced
✓	Passed Committee
✓	Passed House
✓	Passed Senate
✓	Signed by Governor
☐	Became Law

Description

Insurance holding companies. Authorizes the State Corporation Commission to approve any ordinary dividend or other distribution by a registered insurer that is a member of an insurance holding company system to its shareholders within 30 days of receiving written notice of the declaration. Currently, the insurer is required to provide written notice as to all dividends and other distributions at least 30 days prior to payment. The measure also clarifies the Commissions authority to request additional information in making determinations regarding filings of disclaimers of affiliation. Read the Bill »

Outcome

Bill Has Passed

History

Date	Action
01/14/2009	Prefiled and ordered printed; offered 01/14/09 090043864
01/14/2009	Referred to Committee on Commerce and Labor
01/18/2009	Impact statement from SCC (SB1352)
01/19/2009	Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
01/21/2009	Constitutional reading dispensed (39-Y 0-N) (see vote tally)
01/22/2009	Read second time and engrossed
01/23/2009	Read third time and passed Senate (40-Y 0-N) (see vote tally)
01/30/2009	Placed on Calendar
01/30/2009	Read first time
01/30/2009	Referred to Committee on Commerce and Labor
02/17/2009	Reported from Commerce and Labor (20-Y 0-N) (see vote tally)
02/19/2009	Read second time
02/20/2009	Passed by for the day
02/23/2009	Passed by for the day
02/24/2009	Read third time
02/24/2009	Passed House BLOCK VOTE (99-Y 0-N)
02/24/2009	VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
02/28/2009	Enrolled
02/28/2009	Bill text as passed Senate and House (SB1352ER)
02/28/2009	Signed by Speaker
03/03/2009	Impact statement from SCC (SB1352ER)
03/04/2009	Signed by President
03/30/2009	G Approved by Governor-Chapter 717 (effective 7/1/09)
03/30/2009	G Acts of Assembly Chapter text (CHAP0717)