HB 496 (BR 1607) - J. Gooch
AN ACT relating to insurance.
Amend KRS 299.370 to allow the reserve fund to invest in the same securities as fire insurance companies; amend KRS 304.2-065 to change the insurer's financial ratios from outside of the acceptable range to outside of the usual range regarding hazardous condition indicators; amend KRS 304.2-205 to include health maintenance organizations; amend KRS 304.2-210 to allow the commissioner to accept the most recently completed examination; amend KRS 304.2-270 to expand the discretion of the commissioner to share certain information with another state agency or with an agency of another state; amend KRS 304.2-350 to set forth that certain persons under certain conditions will not be prosecuted criminally; amend KRS 304.3-150 to make technical changes; amend KRS 304.4-010 to change the cost of copies per page from fifty cents to thirty cents, and to require insurers who submit filings electronically to remit fees within fifteen days of submission; amend KRS 304.9-105 to set forth prerequisites for revocation, and to add term life and disability to list of exclusions; amend KRS 304.9-150 to require that an application for an agent or solicitor is to be made by an insurer, but that the application for a consultant is to be made by the applicant, and all applications are to be sworn and notarized; amend KRS 304.9-170 to clarify exemption from examination; amend KRS 304.9-220 to require that fees be paid with application; amend KRS 304.9-230 to clarify that a limited license includes insurance covering physical damage to a motor vehicle ; amend KRS 304.9-270 to require that fees be paid with the application; amend KRS 304.13-320 to change rating organization to advisory organization; amend KRS 304.14-130 to add new grounds for form disapproval by the commissioner; amend KRS 304.16-200 to increase amount of life insurance from $2000 to $10,000; amend KRS 304.17.030 to include unmarried dependent children to age nineteen and unmarried children from nineteen to twenty-five who are in school and are dependent on the policyholder; amend KRS 304.17-060 to prohibit denial or reduction of a claim for loss or disability under certain conditions; amend KRS 304.17-130 to increase insurance provisions from $1000 to $5000; amend KRS 304.17-310 to include unmarried dependent children to age nineteen and unmarried children from nineteen to twenty-five who are in school and are dependent of the policyholder; amend KRS 304.18-127 to make technical changes; amend KRS 304.20-040 to change the confirmation of attendance from four to five days, and not less than forty-eight hours; amend KRS 304.24-040 to make technical changes; amend KRS 304.29-261 to make technical changes; amend KRS 304.30-040 to increase time from thirty days to sixty days; amend KRS 304.37-110 to make technical changes; amend KRS 304.38-090 to change the filing time with the commissioner and the Licensure Board to before March 1 of each year; amend KRS 304.43-030 to change the number of days from thirty to sixty regarding the time to run before a filed form or contract is deemed approved; amend KRS 304.44-010 to make technical changes; amend KRS 304.44-030 to change the total insured value reinsured by the administrator from fifty thousand dollars to one hundred thousand dollars; amend KRS 304.44-050, relating to reinsurance agreements, to change the dollar amount from fifty thousand to one hundred thousand; amend KRS 56.080 to make technical change; repeal KRS 304.39-350.
HB 496 - AMENDMENTS
HCS - Create a new section of Subtitle 14 of KRS Chapter 304 to require all policy forms filed with the department to be written in English; and repeal KRS 304.3-245.
SCA (1, F. Bradley) - Make technical correction.
Feb 3-introduced in House
Feb 4-to Banking and Insurance (H)
Feb 23-posted in committee
Mar 5-reported favorably, 1st reading, to Calendar with Committee Substitute
Mar 6-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for March 9, 1998
Mar 10-3rd reading, passed 96-0 with Committee Substitute
Mar 11-received in Senate
Mar 12-to Banking and Insurance (S)
Mar 18-reported favorably, 1st reading, to Calendar with committee amendment (1)
Mar 19-2nd reading, to Rules
Mar 20-posted for passage in the Regular Orders of the Day for March 24, 1998
Mar 24-3rd reading, passed 34-0 with committee amendment (1)
Mar 25-received in House; posted for passage for concurrence in Senate amendment
Mar 31-House concurred in Senate committee amendment (1); passed 89-1
Apr 1-enrolled, signed by each presiding officer, delivered to Governor
Apr 10-signed by Governor