2001-03-13                     Senate Journal                      Page 0638
Another time-sensitive issue under the GLBA relates to consumer                                     
privacy. The federal law sets a minimum privacy standard that states                                
must adopt and enforce by July 1, 2001, or risk losing the authority to                             
enforce state consumer protection standards with respect to financial                               
institution insurance sales. This bill expressly requires those regulated                           
under our insurance statutes to comply with the GLBA privacy                                        
standards and authorizes the state director of insurance to adopt                                   
corresponding regulations on consumer privacy.                                                      
                                                                                                    
In addition to the GLBA-related reforms, the bill addresses other                                   
important issues to facilitate state insurance regulation and to conform                            
to federal law. This includes the ability to obtain national criminal                               
history record checks for persons who want to engage in the business                                
of insurance. It also requires a person with a felony conviction                                    
involving dishonesty or breach of trust to obtain the express written                               
consent of the director of insurance before engaging in the business of                             
insurance. Without this consent, federal law prohibits such persons                                 
from working in the business of insurance. The amendment under this                                 
bill would assist the director of insurance in ensuring that prohibited                             
persons comply with the law.                                                                        
                                                                                                    
I urge your prompt and favorable action on this measure.                                            
                                                                                                    
                                  Sincerely,                                                       
                                 /s/                                                                
                                 Tony Knowles                                                       
                                 Governor                                                           
                                                                                                    
SB 139                                                                                            
SENATE BILL NO. 139 BY THE SENATE RULES COMMITTEE                                                   
BY REQUEST OF THE GOVERNOR, entitled:                                                               
                                                                                                    
          "An Act relating to fees for certain uses of state water                                  
          and the accounting and appropriation of those fees;                                       
          relating to authorizations for the temporary use of                                       
          state water; making other amendments to the Alaska                                        
          Water Use Act; and providing for an effective date."                                      
                                                                                                    
was read the first time and referred to the Resources and Finance                                   
Committees.