Legislature(2015 - 2016)
2015-03-27 House Journal
Full Journal pdf2015-03-27 House Journal Page 0595 HB 164 The Labor & Commerce Committee considered: HOUSE BILL NO. 164 "An Act relating to insurance; relating to risk based capital for domestic insurers and fraternal benefit societies, including provisions related to insurers subject to risk based capital and action level event requirements; relating to review by the director of insurance of an insurer's risk based capital plan; relating to confidentiality and sharing of certain information submitted to the director of insurance for evaluating insurance holding companies, risk based capital, risk management, and own risk and solvency assessments; clarifying provisions related to risk based capital plans; relating to exemptions by the director of insurance for certain domestic and casualty insurers from risk based capital requirements; relating to insurance holding companies, including filing requirements, divestiture, content of statements, and hearings; relating to registration requirements; relating to transactions within an insurance holding company system or transactions involving a domestic insurer; relating to management and examination of domestic insurers that are part of an insurance holding company system; adding provisions relating to participation by the director of insurance in a supervisory college; relating to civil and criminal penalties for violations of provisions related to insurance holding companies; relating to provisions for risk management and own risk and solvency assessments; relating to operating requirements for controlling insurance producers; relating to producer-controlled insurers; adding and amending definitions related to insurers; and providing for an effective date." The report was signed by Representative Olson, Chair, with the following individual recommendations: Do pass (6): LeDoux, Tilton, Hughes, Kito, Josephson, Olson No recommendation (1): Colver 2015-03-27 House Journal Page 0596 The following fiscal note(s) apply: 1. Zero, Dept. of Commerce, Community, & Economic Development HB 164 was referred to the Rules Committee for placement on the calendar.