HB1596 Designates which financial institutions may hold certain assets not exclusively controlled by insurance companies.
Sponsor: Auer, Ron (59) Effective Date:00/00/0000
CoSponsor: LR Number: 3877L.01T
Last Action: 07/13/2000 - Vetoed by Governor (G)
07/13/2000 - Delivered to Secretary of State
HB1596
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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BILL SUMMARIES BILL TEXT
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Available Bill Summaries for HB1596 Copyright(c)
* Truly Agreed * Perfected * Committee * Introduced

Available Bill Text for HB1596
* Truly Agreed * Introduced *

BILL SUMMARIES

TRULY AGREED

HB 1596 -- INSURANCE
            (Vetoed by the Governor)

This bill allows securities and other related assets that are
not exclusively controlled by an insurance company to be held
only by business entities that are subject to regulation by the
Securities and Exchange Commission, the federal reserve system,
or other banking regulator.


PERFECTED

HB 1596 -- INSURANCE (Auer)

This bill allows securities and other related assets that are
not exclusively controlled by an insurance company to be held
only by business entities that are subject to regulation by the
Securities and Exchange Commission, the federal reserve system,
or other banking regulator.

FISCAL NOTE:  No impact on state funds.


COMMITTEE

HB 1596 -- INSURANCE

SPONSOR:  Auer

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Insurance by a vote of 13 to 0.

This bill allows securities and other related assets that are
not exclusively controlled by an insurance company to be held
only by business entities that are subject to regulation by the
Securities and Exchange Commission, the federal reserve system,
or other banking regulator.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that this bill helps protect the
consumer by ensuring accountability for the manner in which
investments are made by insurance companies.

Testifying for the bill were Representative Auer; and Department
of Insurance.

OPPONENTS:  There was no opposition voiced to the committee.

Richard Smreker, Legislative Analyst


INTRODUCED

HB 1596 -- Insurance

Sponsor:  Auer

This bill allows securities and other related assets that are
not exclusively controlled by an insurance company to be held
only by business entities that are subject to regulation by the
Securities and Exchange Commission, the federal reserve system,
or other banking regulator.


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Last Updated October 5, 2000 at 11:33 am