HB 343-PREMIUM FINANCE COMPANIES : EXAM REQS                                                                      
8:01:43 AM                                                                                                                    
CHAIR COSTELLO  announced the consideration  of HB  343, relating                                                               
to examination of premium finance companies.                                                                                    
                                                                                                                                
8:02:05 AM                                                                                                                    
MIKE  NAVARRE, Commissioner,  Department  of Commerce,  Community                                                               
and Economic  Development, explained that HB  343 exempts premium                                                               
finance companies  from a required  examination every  18 months.                                                               
The  Division  of  Banking and  Securities  would  still  conduct                                                               
examinations of these companies on an as-needed basis.                                                                          
                                                                                                                                
8:03:15 AM                                                                                                                    
CHAIR  COSTELLO   closed  public   testimony  on  HB   343  after                                                               
ascertaining that no one wished to comment.                                                                                     
                                                                                                                                
She asked if he was aware of any opposition to the legislation.                                                                 
                                                                                                                                
COMMISSIONER  NAVARRE said  no; it  was a  recommendation of  the                                                               
recently  retired  director  of  Banking and  Securities  and  it                                                               
passed unanimously in the House.                                                                                                
                                                                                                                                
8:03:46 AM                                                                                                                    
SENATOR MICCICHE joined the committee.                                                                                          
                                                                                                                                
8:03:57 AM                                                                                                                    
At ease                                                                                                                         
                                                                                                                                
CHAIR COSTELLO reconvened the meeting and solicited a motion.                                                                   
                                                                                                                                
8:05:01 AM                                                                                                                    
SENATOR MEYER moved  to report HB 343, version  A, from committee                                                               
with individual recommendations and attached fiscal note(s).                                                                    
                                                                                                                                
CHAIR  COSTELLO found  no objection  and  HB 343  moved from  the                                                               
Senate Labor and Commerce Standing Committee.