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Glossary of Legislative Terms

CS/CS/SB 1568: Insurer Insolvency

GENERAL BILL by Budget ; Banking and Insurance ; Montford

Insurer Insolvency; Authorizes a residential property insurer to renegotiate a note issued by the Insurance Capital Build-Up Incentive Program under certain circumstances. Authorizes the Department of Financial Services to request appointment as ancillary receiver if necessary to obtain records to adjudicate covered claims. Provides for the State Risk Management Trust Fund to cover specified officers, employees, agents, and other representatives of the Department of Financial Services for liability under specified federal laws relating to receiverships, etc.

Effective Date: 7/1/2011
 Last Action: 5/2/2011 Senate - Laid on Table, companion bill(s) passed, see CS/HB 1007 (Ch. 2011-226), CS/HB 1087 (Ch. 2011-174), HB 4081 (Ch. 2011-11), CS/CS/CS/SB 408 (Ch. 2011-39) -SJ 639
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Budget (BC)
  3. Rules (RC)

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  • Bill History

    Date Chamber Action
    3/3/2011 Senate • Filed
    3/9/2011 Senate • Referred to Banking and Insurance; Budget -SJ 176
    • Introduced -SJ 176
    3/17/2011 Senate • On Committee agenda-- Banking and Insurance, 03/22/11, 1:15 pm, 412 Knott Building
    3/22/2011 Senate • CS by Banking and Insurance; YEAS 10 NAYS 0 -SJ 286
    3/24/2011 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • Now in Budget -SJ 286
    • CS by Banking and Insurance read 1st time -SJ 290
    4/7/2011 Senate • Also referred to Rules -SJ 461
    4/11/2011 Senate • On Committee agenda-- Budget, 04/14/11, 1:30 pm, 412 Knott Building --Not Considered
    4/14/2011 Senate • On Committee agenda-- Budget, 04/15/11, 1:30 pm, 412 Knott Building
    4/15/2011 Senate • CS/CS by Budget; YEAS 18 NAYS 0 -SJ 471
    4/19/2011 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    4/20/2011 Senate • Now in Rules -SJ 471
    4/21/2011 Senate • On Committee agenda-- Rules, 04/26/11, 1:00 pm, 110 Senate Office Building
    4/26/2011 Senate • Favorable by- Rules; YEAS 9 NAYS 0 -SJ 541
    • CS/CS by Budget read 1st time -SJ 488
    4/27/2011 Senate • Placed on Calendar, on 2nd reading -SJ 541
    4/29/2011 Senate • Placed on Special Order Calendar, 05/02/11
    5/2/2011 Senate • Read 2nd time -SJ 638
    • Amendment(s) adopted (557434) -SJ 639
    • Substituted CS/HB 1007 -SJ 639
    • Laid on Table, companion bill(s) passed, see CS/HB 1007 (Ch. 2011-226), CS/HB 1087 (Ch. 2011-174), HB 4081 (Ch. 2011-11), CS/CS/CS/SB 408 (Ch. 2011-39) -SJ 639

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  • CS/CS/SB 1568, Committee Substitute 2 (Current Bill Version) Posted 4/19/2011 at 8:42 AM

    Bill Text:   Web Page | PDF
    Analyses:   Rules (Pre-Meeting) 4/22/2011 (pdf)
    Rules (Post-Meeting) 4/26/2011 (pdf)

    Related Bills (7)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 803 (c2) Property and Casualty Insurance Wood Compare Last Action: 5/3/2011 H Laid on Table, companion bill(s) passed, see CS/HB 1007 (Ch. 2011-226), CS/CS/CS/SB 408 (Ch. 2011-39), SB 2156 (Ch. 2011-142) -HJ 1101
    Location: Laid on Table     		Track This Bill
    H 1007 (er) Insurer Insolvency Bernard, Julien, Cruz Compare Last Action: 6/27/2011 Chapter No. 2011-226, companion bill(s) passed, see CS/CS/CS/SB 408 (Ch. 2011-39)
    Location: Became Law     		Track This Bill
    H 1087 (er) Insurance Holder Compare Last Action: 6/17/2011 Chapter No. 2011-174
    Location: Became Law     		Track This Bill
    H 4081 (er) Repeal of Obsolete Insurance Provisions Horner Compare Last Action: 4/27/2011 Chapter No. 2011-11, companion bill(s) passed, see CS/CS/CS/SB 408 (Ch. 2011-39)
    Location: Became Law     		Track This Bill
    H 4099 (c1) Repeal of Property & Casualty Insurance Provisions Nelson Compare Last Action: 5/7/2011 S Died in Banking and Insurance, companion bill(s) passed, see HB 4081 (Ch. 2011-11), CS/CS/CS/SB 408 (Ch. 2011-39)
    Location: In committee/council (BI)     		Track This Bill
    S 408 (er) Property and Casualty Insurance Richter Compare Last Action: 5/17/2011 Chapter No. 2011-39, companion bill(s) passed, see CS/HB 1007 (Ch. 2011-226), HB 4081 (Ch. 2011-11), SB 2156 (Ch. 2011-142)
    Location: Became Law     		Track This Bill
    S 636 Repeal of Obsolete Insurance Provisions Simmons Compare Last Action: 4/6/2011 S Laid on Table, companion bill(s) passed, see HB 4081 (Ch. 2011-11), CS/CS/CS/SB 408 (Ch. 2011-39) -SJ 361
    Location: Laid on Table     		Track This Bill

    Floor Amendments (1)

    Amendment Sponsor Filed Last Floor Action Format
    557434 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Montford 5/2/2011
    9:44 AM     		Senate: Adopted
    5/2/2011     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/26/2011 1:00 PM Rules 9 Yeas - 0 Nays

    Citations - Statutes (10)

    Citation Catchline Location in Bill Location In Bill Help
    215.5595 Insurance Capital Build-Up Incentive Program. Page 2 (pdf)
    624.424 Annual statement and other information. Page 3 (pdf)
    624.610 Reinsurance. Page 4 (pdf)
    631.152 Conduct of delinquency proceeding; foreign insurers. Page 5 (pdf)
    631.2715 Page 7 (pdf)
    631.391 Cooperation of officers and employees. Page 7 (pdf)
    631.54 Definitions. Page 7 (pdf)
    631.56 Board of directors. Page 8 (pdf)
    631.904 Definitions. Page 9 (pdf)
    631.912 Board of directors. Page 10 (pdf)

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  • CS/SB 1568, Committee Substitute 1 Posted 3/24/2011 at 10:39 AM

    Bill Text:   Web Page | PDF
    Analyses:   Budget (Pre-Meeting) 4/12/2011 (pdf)
    Budget (Post-Meeting) 4/19/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1007 (c1) Insurer Insolvency Bernard, Julien, Cruz Similar Last Action: 6/27/2011 Chapter No. 2011-226, companion bill(s) passed, see CS/CS/CS/SB 408 (Ch. 2011-39)
    Location: Became Law     		Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    323402 - Amendment
    Between lines 35 and 36 insert:     		Budget
    (Montford)     		4/15/2011
    9:10 AM     		Replaced by Committee Substitute
    4/18/2011     		Web Page
    PDF
    814928 - Amendment
    Between lines 106 and 107 insert:     		Budget
    (Montford)     		4/15/2011
    9:10 AM     		Withdrawn
    4/18/2011     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/15/2011 1:30 PM Budget 18 Yeas - 0 Nays

    Citations - Statutes (7)

    Citation Catchline Location in Bill Location In Bill Help
    631.152 Conduct of delinquency proceeding; foreign insurers. Page 2 (pdf)
    631.2715 Page 4 (pdf)
    631.391 Cooperation of officers and employees. Page 4 (pdf)
    631.54 Definitions. Page 4 (pdf)
    631.56 Board of directors. Page 5 (pdf)
    631.904 Definitions. Page 5 (pdf)
    631.912 Board of directors. Page 7 (pdf)

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  • SB 1568, Original Filed Version Posted 3/3/2011 at 8:14 AM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 3/21/2011 (pdf)
    Banking and Insurance (Post-Meeting) 3/24/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1007 Insurer Insolvency Bernard, Julien, Cruz Similar Last Action: 6/27/2011 Chapter No. 2011-226, companion bill(s) passed, see CS/CS/CS/SB 408 (Ch. 2011-39)
    Location: Became Law     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    556478 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Banking and Insurance
    (Bennett)     		3/21/2011
    4:50 PM     		Replaced by Committee Substitute
    3/22/2011     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/22/2011 1:15 PM Banking and Insurance 10 Yeas - 0 Nays

    Citations - Statutes (7)

    Citation Catchline Location in Bill Location In Bill Help
    631.2715 Page 2 (pdf)
    631.54 Definitions. Page 3 (pdf)
    631.56 Board of directors. Page 4 (pdf)
    631.57 Powers and duties of the association. Page 4 (pdf)
    631.904 Definitions. Page 5 (pdf)
    631.912 Board of directors. Page 7 (pdf)
    631.913 Powers and duties of the corporation. Page 7 (pdf)

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