Insurance agencies; designated licensed producers. (HB393)

Introduced By

Del. Lee Ware (R-Powhatan)

Progress

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

Description

Insurance agencies; designated licensed producers. Requires that an insurance agency's designated licensed producer responsible for the agency's compliance with insurance laws and regulations be an employee of the agency. Business entities acting as an insurance producer are required within 30 calendar days to report (i) the removal of the designated licensed producer responsible for the business entity's compliance with insurance laws, rules, and regulations and (ii) the name of the new designated licensed producer. The State Corporation Commission is authorized to terminate an insurance agency's license for failing to maintain such a designated licensed producer. The measure makes the designated licensed producer requirements uniform among various lines of insurance. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/06/2016Committee
01/06/2016Prefiled and ordered printed; offered 01/13/16 16103423D
01/06/2016Referred to Committee on Commerce and Labor
01/10/2016Impact statement from SCC (HB393)
01/21/2016Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
01/25/2016Read first time
01/26/2016Read second time and engrossed
01/27/2016Read third time and passed House BLOCK VOTE (99-Y 0-N)
01/27/2016VOTE: BLOCK VOTE PASSAGE (99-Y 0-N) (see vote tally)
01/28/2016Constitutional reading dispensed
01/28/2016Referred to Committee on Commerce and Labor
02/29/2016Reported from Commerce and Labor with substitute (14-Y 0-N) (see vote tally)
02/29/2016Committee substitute printed 16105644D-S1
03/02/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/03/2016Impact statement from SCC (HB393S1)
03/03/2016Read third time
03/03/2016Reading of substitute waived
03/03/2016Committee substitute agreed to 16105644D-S1
03/03/2016Engrossed by Senate - committee substitute HB393S1
03/03/2016Passed Senate with substitute (30-Y 0-N) (see vote tally)
03/03/2016Reconsideration of Senate passage agreed to by Senate (36-Y 0-N) (see vote tally)
03/03/2016Passed Senate with substitute (40-Y 0-N) (see vote tally)
03/04/2016Placed on Calendar
03/07/2016Senate substitute agreed to by House 16105644D-S1 (94-Y 0-N)
03/07/2016VOTE: ADOPTION (94-Y 0-N) (see vote tally)
03/08/2016Enrolled
03/08/2016Bill text as passed House and Senate (HB393ER)
03/08/2016Impact statement from SCC (HB393ER)
03/08/2016Signed by Speaker
03/10/2016Signed by President
03/11/2016G Governor's Action Deadline Midnight, Monday, April 11, 2016
03/11/2016Enrolled Bill communicated to Governor on 3/11/16
03/11/2016G Governor's Action Deadline Midnight, Sunday, April 10, 2016
03/29/2016G Approved by Governor-Chapter 552 (effective 7/1/16)
03/29/2016G Acts of Assembly Chapter text (CHAP0552)

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 40 seconds.

Transcript

This is a transcript of the video clips in which this bill is discussed.

AGENCIES. THE BILL REQUESTED BY THE STATE CORPORATION COMMISSION. THE SENATE AMENDMENTS REFLECT DISCUSSIONS BETWEEN THE CORPORATION COMMISSION AND EFFECTIVE INSURERS AND OTHER AGENCIES AND AGREED TO BUT BOTH INDUSTRIES AND SEC. I MOVE WE ACCEPT THE SENATE AMENDMENTS. SHALL THE AMENDMENT BE AGREED TO? THE CLERK WILL CLOSE THE ROLL. AYE, 94, NO, 0. THE SENATE SUBSTITUTE IS AGREED TO.