Surplus lines insurance; eliminates requirement that broker be licensed in Virginia. (HB2286)

Introduced By

Del. Mark Sickles (D-Alexandria)

Progress

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

Description

Surplus lines insurance.  Eliminates the requirement that a surplus lines broker be licensed in Virginia unless the broker is selling, soliciting, or negotiating contracts of insurance for insureds whose home state is Virginia. The measure also establishes uniform eligibility requirements for the approval of nonadmitted, or unlicensed, insurers in Virginia and clarifies that surplus lines premium taxes will be collected for risks whose home state is Virginia. The amendments implement provisions of the federal Nonadmitted and Reinsurance Reform Act of 2010. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/12/2011Committee
01/12/2011Prefiled and ordered printed; offered 01/12/11 11101707D
01/17/2011Referred to Committee on Commerce and Labor
01/20/2011Reported from Commerce and Labor with amendments (22-Y 0-N) (see vote tally)
01/24/2011Read first time
01/25/2011Read second time
01/25/2011Committee amendments agreed to
01/25/2011Engrossed by House as amended HB2286E
01/25/2011Printed as engrossed 11101707D-E
01/26/2011Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/26/2011VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
01/27/2011Constitutional reading dispensed
01/27/2011Referred to Committee on Commerce and Labor
01/27/2011Impact statement from SCC (HB2286E)
02/14/2011Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
02/16/2011Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/17/2011Read third time
02/17/2011Passed Senate (39-Y 0-N) (see vote tally)
02/23/2011Enrolled
02/23/2011Bill text as passed House and Senate (HB2286ER)
02/23/2011Signed by Speaker
02/23/2011Signed by President
02/24/2011Impact statement from SCC (HB2286ER)
03/24/2011G Approved by Governor-Chapter 498 (effective 7/1/11)
03/24/2011G Acts of Assembly Chapter text (CHAP0498)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 1 minute.