House Bill 375

Actions
Last Action signed by Governor (Acts, ch. 36)
Title AN ACT authorizing associations and member underwriters authorized to transact insurance in this state to also qualify as eligible surplus lines insurers.
Bill Documents Bill
Bill Request Number 1450
Sponsor B. Damron
Summary of Original Version Amend KRS 304.3-070 to authorize an association, including incorporated and individual unincorporated underwriters, to transact insurance in this state subject to minimum capital and surplus requirements, subject to a restriction on association members to solely conduct the business of underwriting, provide an exemption from the definition of a Lloyd's plan insurer and the requirements of Subtitle 28 of KRS Chapter 304 relating to Lloyd's insurers, and allow qualification as eligible surplus lines brokers; amend KRS 304.3-120 to exempt associations and underwriters authorized to transact insurance in this state pursuant to Section 1 of this Act from the requirements of this section; amend KRS 304.10-070 to authorize associations, including incorporated or individual unincorporated underwriters, authorized to transact insurance in this state to place surplus lines coverage if the syndicates within the association are listed on the quarterly list of alien insurers maintained by the National Association of Insurance Commissioners.
Index Headings of Original Version Insurance - Associations, Lloyd's insurer requirements, exempt
Insurance - Associations, transaction of surplus lines insurance, authorize
Votes Vote History

Actions

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02/11/14
  • introduced in House
02/12/14
  • to Banking & Insurance (H)
02/19/14
  • posted in committee
02/26/14
  • reported favorably, 1st reading, to Consent Calendar
02/27/14
  • 2nd reading, to Rules
  • posted for passage in the Consent Orders of the Day for Tuesday, March 4, 2014
03/04/14
  • 3rd reading, passed 97-0
03/05/14
  • received in Senate
03/07/14
  • to Banking & Insurance (S)
03/18/14
  • reported favorably, 1st reading, to Consent Calendar
03/19/14
  • 2nd reading, to Rules
03/20/14
  • posted for passage in the Consent Orders of the Day for Friday, March 21, 2014
03/21/14
  • 3rd reading, passed 38-0
03/24/14
  • received in House
03/25/14
  • enrolled, signed by Speaker of the House
03/26/14
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/07/14
  • signed by Governor (Acts, ch. 36)


Last updated: 8/27/2019 6:52 PM (EDT)