2006-04-05                     House Journal                      Page 3013
    HOUSE BILL NO. 439                                                                              
    "An Act relating to authorizing the state to join with other states                             
    entering into the Interstate Insurance Product Regulation Compact                               
    and authorizing the compact to supersede existing statutes by                                   
    approving standards, rules, or other action under the terms of the                              
    compact."                                                                                       
                                                                                                    
with the:                                                  Journal Page                             
                                                                                                    
 L&C RPT CS(L&C) NT 3DP 3NR                                       2687                              
 FN1: ZERO(H.L&C/CED)                                             2688                              
 JUD RPT CS(L&C) NT 4DP 2AM                                       2918                              
 FN2: ZERO(CED)                                                   2919                              
                                                                                                    
Representative Coghill moved and asked unanimous consent that the                                   
following committee substitute be adopted in lieu of the original bill:                             
                                                                                                    
    CS FOR HOUSE BILL NO. 439(L&C)                                                                  
    "An Act relating to authorizing the state to join with other states in                          
    entering into the Interstate Insurance Product Regulation                                       
    Compact."                                                                                       
                                                                                                    
There being no objection, it was so ordered.                                                        
                                                                                                    
Amendment No. 1 was offered  by Representative Gara:                                                 
                                                                                                    
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Page 23, following line 14:                                                                         
 Insert a new section to read:                                                                      
     "Sec. 21.42.705. Opt-out duties, guidelines, remedies. (a)                                   
    As a participant in the Interstate Insurance Product Regulation                                 
    Compact, it is the policy of the state to opt out, and the director                             
    shall opt out, of any Uniform Standard that provides a materially                               
    lower level of protection for or materially diminishes the rights of                            
    Alaska policyholders or policy applicants.                                                      
     (b)  If the director or a court of competent jurisdiction finds                                
    that the policy set out in (a) of this section has been violated,