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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

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

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

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