Insurance regulation; corporate governance annual disclosures. (HB2102)

Introduced By

Del. Kathy Byron (R-Lynchburg)

Progress

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

Description

Insurance regulation; corporate governance annual disclosures. Requires each insurer domiciled in the Commonwealth, or the insurance group of which the insurer is a member, to submit to the State Corporation Commission (SCC) a Corporate Governance Annual Disclosure (CGAD). The CGAD is a confidential report containing material information related to an insurer or insurance group's internal operations that permits the SCC to gain an understanding of the insurer's or insurance group's corporate governance structure, policies, and practices,. The measure sets out requirements for completing and submitting a CGAD with the SCC and provides for the confidential treatment of the CGAD and related information. The measure has a delayed effective date of January 1, 2018. Amends § 38.2-1005.1:7, § 38.2-1339, § 38.2-1342, § 38.2-4319, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/10/2017Committee
01/10/2017Prefiled and ordered printed; offered 01/11/17 17101534D
01/10/2017Referred to Committee on Commerce and Labor
01/15/2017Impact statement from SCC (HB2102)
01/24/2017Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
01/26/2017Read first time
01/27/2017Read second time and engrossed
01/30/2017Read third time and passed House BLOCK VOTE (98-Y 0-N)
01/30/2017VOTE: BLOCK VOTE PASSAGE (98-Y 0-N) (see vote tally)
01/31/2017Constitutional reading dispensed
01/31/2017Referred to Committee on Commerce and Labor
02/13/2017Reported from Commerce and Labor (13-Y 0-N) (see vote tally)
02/15/2017Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/16/2017Read third time
02/16/2017Passed Senate (39-Y 0-N) (see vote tally)
02/16/2017Reconsideration of Senate passage agreed to by Senate (40-Y 0-N) (see vote tally)
02/16/2017Passed Senate (40-Y 0-N) (see vote tally)
02/20/2017Enrolled
02/20/2017Bill text as passed House and Senate (HB2102ER)
02/20/2017Signed by Speaker
02/21/2017Signed by President
02/21/2017Enrolled Bill communicated to Governor on 2/21/17
02/21/2017G Governor's Action Deadline Midnight, March 27, 2017
02/22/2017Impact statement from SCC (HB2102ER)
03/20/2017G Approved by Governor-Chapter 643 (effective 1/1/18)
03/20/2017G Acts of Assembly Chapter text (CHAP0643)