CS/CS/HB 379: Captive Insurance
GENERAL BILL by Economic Affairs Committee; Insurance and Banking Subcommittee; Nunez; (CO-INTRODUCER) Horner
Captive Insurance; Expands kinds of insurance for which captive insurer may seek licensure; limits risks certain captive insurers may insure; specifies requirements & conditions relating to captive insurer's authority to conduct business; requires before licensure captive insurers must file or submit to OIR specified information, documents, & statements; requires captive insurance company to file specific evidence with office relating to financial condition & quality of management & operations of company; specifies fees to be paid by captive insurance or reinsurance companies; authorizes Commissioner of Insurance Regulation to grant captive insurance company license to conduct insurance business until specified date; authorizes foreign or alien captive insurance company to become domestic captive insurance company by complying with requirements; authorizes office to waive requirements for public hearings relating to redomestication of alien captive insurance company; specifies industrial insured captive insurance companies are not required to be incorporated in this state; requires biographical affidavits, background investigations, & fingerprint cards for all officers & directors; provides restrictions on officers & directors involved with insolvent insurers.
Senate Committee References: Banking and Insurance (BI), Budget Subcommittee on General Government Appropriations (BGA), Budget (BC)
Last Action: 03/09/2012 Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
Effective Date: upon becoming a law
Bill History
| Date | Chamber | Action |
|---|---|---|
| 10/17/2011 | House | • Filed |
| 10/28/2011 | House | • Referred to Insurance and Banking Subcommittee; Finance and Tax Committee; Economic Affairs Committee -HJ 38 |
| 11/09/2011 | House | • On Committee agenda-- Insurance and Banking Subcommittee, 11/16/11, 8:00 am, 404 HOB |
| 11/16/2011 | House | • CS by Insurance and Banking Subcommittee; YEAS 15 NAYS 0 -HJ 176 |
| 12/07/2011 | House | • Pending review of CS under Rule 7.19(c) |
| 12/09/2011 | House | • Original reference(s) removed: Finance and Tax Committee • CS referred to Economic Affairs Committee -HJ 169 • Now in Economic Affairs Committee -HJ 169 |
| 01/10/2012 | House | • Introduced -HJ 38 • On Committee agenda-- Economic Affairs Committee, 01/12/12, 11:30 am, Reed Hall • CS by Insurance and Banking Subcommittee read 1st time -HJ 165 |
| 01/12/2012 | House | • CS/CS by- Economic Affairs Committee; YEAS 15 NAYS 0 -HJ 248 |
| 01/20/2012 | House | • Pending review of CS -under Rule 7.19(c) |
| 01/23/2012 | House | • Placed on Calendar -HJ 246 • CS/CS by Economic Affairs Committee read 1st time -HJ 242 |
| 02/20/2012 | House | • Placed on Special Order Calendar, 02/22/12 |
| 02/22/2012 | House | • Read 2nd time -HJ 726 • Amendment(s) adopted (089525, 138831, 271209, 534865, 634279, 813789) -HJ 727 • Placed on 3rd reading |
| 02/23/2012 | House | • Read 3rd time -HJ 776 • CS passed as amended; YEAS 115 NAYS 0 -HJ 777 |
| 02/24/2012 | Senate | • In Messages |
| 03/05/2012 | Senate | • Received -SJ 841 • Referred to Banking and Insurance; Budget Subcommittee on General Government Appropriations; Budget -SJ 841 |
| 03/09/2012 | Senate | • Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151) |
