Credit life insurance and credit accident and sickness insurance; adjustment of rates. (SB383)

Introduced By

Sen. Ryan McDougle (R-Mechanicsville)

Progress

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

Description

Credit life insurance and credit accident and sickness insurance; adjustment of rates; requirement for hearing. Removes the requirement that the State Corporation Commission conduct a hearing prior to determining the actual loss ratio for each form of insurance and adjusting the prima facie rates. Under the bill, after the Commission has determined the actual loss ratio and prima facie rates, it will provide notice of such ratio and rates and provide an opportunity for a hearing. Read the Bill »

Outcome

Bill Has Passed

History

DateAction
01/11/2022Prefiled and ordered printed; offered 01/12/22 22101326D
01/11/2022Referred to Committee on Commerce and Labor
01/16/2022Impact statement from SCC (SB383)
01/17/2022Reported from Commerce and Labor (15-Y 0-N) (see vote tally)
01/19/2022Constitutional reading dispensed (40-Y 0-N) (see vote tally)
01/20/2022Read second time and engrossed
01/21/2022Read third time and passed Senate (37-Y 0-N) (see vote tally)
02/22/2022Placed on Calendar
02/22/2022Read first time
02/22/2022Referred to Committee on Commerce and Energy
03/01/2022Reported from Commerce and Energy (22-Y 0-N) (see vote tally)
03/03/2022Read second time
03/04/2022Read third time
03/04/2022Passed House BLOCK VOTE (99-Y 0-N)
03/04/2022VOTE: Block Vote Passage (99-Y 0-N) (see vote tally)
03/09/2022Enrolled
03/09/2022Bill text as passed Senate and House (SB383ER)
03/09/2022Signed by Speaker
03/10/2022Impact statement from SCC (SB383ER)
03/10/2022Signed by President
03/22/2022Enrolled Bill Communicated to Governor on March 22, 2022
03/22/2022G Governor's Action Deadline 11:59 p.m., April 11, 2022
04/11/2022G Approved by Governor-Chapter 412 (effective 7/1/22)
04/11/2022G Acts of Assembly Chapter text (CHAP0412)

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