Legislature(2015 - 2016)
2015-09-10 Senate Journal
Full Journal pdf2015-09-10 Senate Journal Page 1437 SB 107 Message was received stating the Governor signed the following bill on June 10 and transmitted the engrossed and enrolled copies to the Lieutenant Governor's Office for permanent filing: SENATE BILL NO. 107 "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; relating to evaluating an insurance holding company and the acquisition of control of or merger with a domestic insurer; relating to risk based capital, risk management, and own risk and solvency assessments of insurers; 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, notifications, and hearings; relating to registration requirements of insurers; 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 by insurers and individuals; relating to provisions for risk management and own risk and solvency assessments 2015-09-10 Senate Journal Page 1438 by insurers; 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." Chapter 34, SLA 2015 Effective Date: 7/1/15