00RS HB551


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HB 551 (BR 1638) - R. Crimm

     AN ACT relating to insurance.
     Amend various sections of KRS Chapter 304 to make various technical changes; amend various statutes in Subtitle 8 of KRS Chapter 304 to require deposits of assets of insurers to be maintained by the commissioner rather than the custodian of insurance securities; amend KRS 304.13-390 to authorize the commissioner to revoke or suspend an insurer's license if the state fire marshal finds that the insurer has failed to comply with KRS 227.250; amend KRS 304.9-120 to allow the commissioner to enter into reciprocal agreements with other countries about licensing of agents; amend KRS 304.9-130 to delete requirement that for a license to be issued to a firm or corporation it must maintain an office in Kentucky; amend KRS 304.9-140 on licensing of nonresidents; amend KRS 304.32-180, 304.38-110, 304.43-080, and 304.48-100 to require agents to be licensed under Subtitle 9 and subject to health insurance provisions of Subtitle 9; amend KRS 304.29-281, 304.30-060, 304.32-030, 304.38-120, 304.43-090, and 304.48-110 to make subject to Subtitle 2 for determining market conduct and business practices; create a new section of Subtitle 32 of KRS Chapter 304 to prohibit a corporation with a suspended license from enrolling new members; amend KRS 304.38-130 and 304.43-100 to allow suspension or revocation of license as allowed in Subtitles 2 and 3; create a new section of Subtitle 48 of KRS Chapter 304 to make liability self-insurance groups subject to Subtitles 1 and 2; create a new section of Subtitle 2 of KRS Chapter 304 on use of materials by the commissioner that the commissioner deems confidential; permit the commissioner to share documents with other regulatory authorities, the National Association of Insurance Commissioners, and law enforcement officials; create a new section of Subtitle 2 of KRS Chapter 304 on confidentiality of documents; amend KRS 18A.229, 136.410, 304.99-151, and 431.510 to conform; repeal KRS 147A.130, 304.8-060, 304.8-070, 304.9-220, 304.18-025, 304.24-410, 304.32-190, 304.32-200, 304.32-220, 304.32-230, 304.34-010, 304.34-020, 304.34-030, 304.34-040, 304.34-042, 304.34-045, 304.34-050, 304.34-060, 304.34-070, 304.34-075, 304.34-080, 304.34-090, 304.34-100, 304.34-110, 304.34-120, 304.34-130, 304.34-140, 304.34-160, 304.39-330, and 304.99-030.


     HCA (1, R. Crimm) - Make technical changes.

     Feb 2-introduced in House
     Feb 3-to Banking and Insurance (H)
     Feb 14-posted in committee
     Feb 24-reported favorably, 1st reading, to Calendar with committee amendment (1)
     Feb 25-2nd reading, to Rules
     Feb 28-posted for passage in the Regular Orders of the Day for Tuesday, February 29, 2000
     Mar 17-recommitted to Appropriations and Revenue (H)

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