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Glossary of Legislative Terms

CS/CS/SB 610: Captive Insurance

GENERAL BILL by Budget Subcommittee on General Government Appropriations ; Banking and Insurance ; Diaz de la Portilla

Captive Insurance; Expanding the kinds of insurance for which a captive insurer may seek licensure; limiting the risks that certain captive insurers may insure; specifying requirements and conditions relating to a captive insurer’s authority to conduct business; specifying certain fees to be paid by captive insurance companies; requiring biographical affidavits, background investigations, and fingerprint cards for all officers and directors; providing restrictions on officers and directors involved with insolvent insurers under certain conditions; providing restrictions on officers and directors that are found guilty of, or have pleaded guilty or nolo contendere to, any felony or crime involving moral turpitude, including a crime of dishonesty or breach of trust, etc.

Effective Date: upon becoming a law
 Last Action: 3/9/2012 Senate - Died on Calendar, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Budget Subcommittee on General Government Appropriations (BGA)

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  • Bill History

    Date Chamber Action
    10/20/2011 Senate • Filed
    11/2/2011 Senate • Referred to Banking and Insurance; Budget -SJ 52
    11/22/2011 Senate • On Committee agenda-- Banking and Insurance, 12/07/11, 9:30 am, 412 Knott Building
    12/7/2011 Senate • CS by Banking and Insurance; YEAS 10 NAYS 0 -SJ 112
    12/8/2011 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    12/9/2011 Senate • Now in Budget -SJ 112
    12/13/2011 Senate • Subreferred to Budget Subcommittee on General Government Appropriations -SJ 109
    • Now in Budget Subcommittee on General Government Appropriations
    1/9/2012 Senate • On Committee agenda-- Budget Subcommittee on General Government Appropriations, 01/12/12, 1:00 pm, 401 Senate Office Building
    1/10/2012 Senate • Introduced -SJ 52
    • CS by Banking and Insurance read 1st time -SJ 105
    1/12/2012 Senate • CS/CS by Budget Subcommittee on General Government Appropriations; YEAS 8 NAYS 0 -SJ 214
    1/17/2012 Senate • Now in Budget -SJ 214
    • CS/CS by Budget Subcommittee on General Government Appropriations read 1st time -SJ 249
    3/6/2012 Senate • Withdrawn from Budget -SJ 874
    • Pending reference review -under Rule 4.7(2) - (Committee Substitute) -SJ 874
    • Placed on Calendar, on 2nd reading
    3/9/2012 Senate • Died on Calendar, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)

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  • CS/CS/SB 610, Committee Substitute 2 (Current Bill Version) Posted 1/17/2012 at 1:14 PM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 379 (e1) Captive Insurance Nunez Similar Last Action: 3/9/2012 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: In committee/council (BI)     		Track This Bill
    H 1101 (er) Insurance Horner Compare Last Action: 4/25/2012 Chapter No. 2012-151, companion bill(s) passed, see CS/CS/HB 119 (Ch. 2012-197), CS/CS/HB 1223 (Ch. 2012-181)
    Location: Became Law     		Track This Bill
    S 1620 (c2) Insurance Richter Compare Last Action: 3/8/2012 S Laid on Table, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151), CS/CS/HB 119 (Ch. 2012-197), CS/CS/HB 1223 (Ch. 2012-181) -SJ 1040
    Location: Laid on Table     		Track This Bill

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 26 (pdf)
    628.901 “Captive insurer” defined. Page 4 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 26 (pdf)
    628.905 Licensing; authority. Page 8 (pdf)
    628.906 Page 12 (pdf)
    628.907 Minimum capital and surplus. Page 13 (pdf)
    628.908 Page 16 (pdf)
    628.909 Applicability of other laws. Page 17 (pdf)
    628.910 Page 18 (pdf)
    628.911 Reports and statements. Page 20 (pdf)
    628.912 Page 21 (pdf)
    628.913 Reinsurance. Page 22 (pdf)
    628.914 Page 23 (pdf)
    628.9141 Page 24 (pdf)
    628.9142 Page 25 (pdf)
    628.918 Page 25 (pdf)
    628.919 Page 25 (pdf)
    628.920 Page 25 (pdf)

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  • CS/SB 610, Committee Substitute 1 Posted 12/8/2011 at 11:36 AM

    Bill Text:   Web Page | PDF
    Analyses:   Budget Subcommittee on General Government Appropriations (Pre-Meeting) 1/11/2012 (pdf)
    Budget Subcommittee on General Government Appropriations (Post-Meeting) 1/17/2012 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 379 (c1) Captive Insurance Nunez Similar Last Action: 3/9/2012 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: In committee/council (BI)     		Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    557604 - Amendment
    Delete lines 233 - 234 and insert:     		Budget Subcommittee on General Government Appropriations
    (Diaz de la Portilla)     		1/11/2012
    10:20 AM     		Withdrawn
    1/12/2012     		Web Page
    PDF
    331102 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Budget Subcommittee on General Government Appropriations
    (Diaz de la Portilla)     		1/12/2012
    12:01 PM
    (Late Filed)     		Replaced by Committee Substitute
    1/12/2012     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    1/12/2012 1:00 PM Budget Subcommittee on General Government Appropriations 8 Yeas - 0 Nays

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 27 (pdf)
    628.901 “Captive insurer” defined. Page 4 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 25 (pdf)
    628.905 Licensing; authority. Page 8 (pdf)
    628.906 Page 13 (pdf)
    628.907 Minimum capital and surplus. Page 14 (pdf)
    628.908 Page 17 (pdf)
    628.909 Applicability of other laws. Page 18 (pdf)
    628.910 Page 19 (pdf)
    628.911 Reports and statements. Page 22 (pdf)
    628.912 Page 23 (pdf)
    628.913 Reinsurance. Page 23 (pdf)
    628.914 Page 25 (pdf)
    628.9141 Page 25 (pdf)
    628.9142 Page 26 (pdf)
    628.918 Page 26 (pdf)
    628.919 Page 27 (pdf)
    628.920 Page 27 (pdf)

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  • SB 610, Original Filed Version Posted 10/20/2011 at 9:49 AM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 12/6/2011 (pdf)
    Banking and Insurance (Post-Meeting) 12/8/2011 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 379 (c1) Captive Insurance Nunez Similar Last Action: 3/9/2012 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/HB 1101 (Ch. 2012-151)
    Location: In committee/council (BI)     		Track This Bill

    Committee Amendments (1)

    Amendment Sponsor Filed Last Committee Action Format
    344004 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Banking and Insurance
    (Bennett)     		12/5/2011
    1:12 PM     		Favorable
    12/7/2011     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    12/7/2011 9:30 AM Banking and Insurance 10 Yeas - 0 Nays

    Citations - Statutes (18)

    Citation Catchline Location in Bill Location In Bill Help
    626.7491 Business transacted with producer controlled property and casualty insurer. Page 25 (pdf)
    628.901 “Captive insurer” defined. Page 4 (pdf)
    628.903 “Industrial insured captive insurer” defined. Page 25 (pdf)
    628.905 Licensing; authority. Page 8 (pdf)
    628.907 Minimum capital and surplus. Page 11 (pdf)
    628.908 Page 14 (pdf)
    628.909 Applicability of other laws. Page 15 (pdf)
    628.910 Page 16 (pdf)
    628.911 Reports and statements. Page 19 (pdf)
    628.912 Page 20 (pdf)
    628.913 Reinsurance. Page 21 (pdf)
    628.914 Page 22 (pdf)
    628.9141 Page 23 (pdf)
    628.9142 Page 23 (pdf)
    628.9143 Page 24 (pdf)
    628.918 Page 24 (pdf)
    628.919 Page 24 (pdf)
    628.920 Page 25 (pdf)

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