SB  58-CANCEL INS. ON CERTAIN ABANDONED PROPERTY                                                                    
                                                                                                                                
1:33:05 PM                                                                                                                    
CHAIR  DUNLEAVY  reconvened  the   meeting  and  recognized  that                                                               
Senators  Olson,  Micciche,  Steadman  and  Chair  Dunleavy  were                                                               
present.  He  announced  the  consideration of  SB  58.  "An  Act                                                               
allowing an  insurer to  cancel an  insurance policy  if property                                                               
becomes entirely." This was the second hearing.                                                                                 
                                                                                                                                
CHAIR DUNLEAVY found no public testimony and closed it.                                                                         
                                                                                                                                
1:33:44 PM                                                                                                                    
SENATOR  MICCICHE stated  that this  bill  was heard  previously.                                                               
Many questions  were asked  and the  committee is  satisfied that                                                               
abandoned property  truly would be abandoned  before an insurance                                                               
company would  cancel the  insurance. If  there are  no questions                                                               
today, it's because  they were answered in  the previous hearing,                                                               
he said.                                                                                                                        
                                                                                                                                
CHAIR  DUNLEAVY  solicited  a  motion   to  move  the  bill  from                                                               
committee.                                                                                                                      
                                                                                                                                
1:34:06 PM                                                                                                                    
SENATOR  MICCICHE  moved  to  report  SB  58,  28-LS0502\N,  from                                                               
committee  with individual  recommendations  and attached  fiscal                                                               
note(s).                                                                                                                        
                                                                                                                                
CHAIR  DUNLEAVY announced  that  without objection,  SB 58  moved                                                               
from the Senate Labor & Commerce Standing Committee.