HB 590 (BR 530) - R. Damron
AN ACT relating to insurance examinations.
Amend KRS 304.2-210 pertaining to examination of insurance companies to define "examination workpaper;" establish criteria to be considered by the executive director of the Office of Insurance in scheduling and determining the nature, scope, and frequency of examinations; permit the executive director to examine or investigate to the extent the executive director deems necessary or material; specify when a report of the most recently completed examination of a foreign, or alien, insurer can be accepted in lieu of the executive director making his or her own examination; amend KRS 304.2-230 to require the observance of guidelines in the Examiners' Handbook adopted by the National Association of Insurance Commissioner; establish criteria of who may be appointed as examiner; provide immunity for examiners; authorize the examiner to issue subpoenas; permit the executive director to terminate or suspend an examination in order to pursue other legal or regulatory action; amend KRS 304.2-250 to deem examination documents as confidential; amend KRS 304.2-260 to deem examination workpapers confidential and not available for public inspection and create exceptions; amend KRS 304.2-270 to conform.
HB 590 - AMENDMENTS
HCS - Retain original provisions; change Section 1(4) to permit the executive director to examine or investigate any person if the executive director deems it necessary and material, rather than necessary or material, to the examination of the insurer; add a provision in Section 2(9) to provide that nothing in this subsection is binding upon the court in making determinations about relevancy and admissibility in any civil action pertaining to any such documents.
SCS - Retain original provisions; create a new section of Subtitle 12 of KRS Chapter 304 to define "free insurance" and to prohibit the provision of free insurance for damage, loss or theft as an inducement to the purchase, sale or rental of consumer goods or services connected with consumer goods.
SCA (1/Title, G. Neal) - Make title amendment.
Feb 20-introduced in House
Feb 25-to Banking & Insurance (H)
Feb 27-posted in committee
Mar 5-reported favorably, 1st reading, to Calendar with Committee Substitute
Mar 6-2nd reading, to Rules
Mar 10-posted for passage in the Regular Orders of the Day for Tuesday, March 11, 2008
Mar 11-3rd reading, passed 96-0 with Committee Substitute
Mar 12-received in Senate
Mar 14-to Banking & Insurance (S)
Mar 25-reported favorably, 1st reading, to Consent Calendar with Committee Substitute, committee amendment
Mar 26-2nd reading, to Rules
Apr 2-posted for passage in the Consent Orders of the Day for April 2, 2008; 3rd reading, passed 38-0 with Committee Substitute, committee amendment (1-title) ; received in House; to Rules (H)
Apr 14-taken from Rules; posted for passage for concurrence in Senate Committee Substitute, committee amendment (1-title) ; House concurred in Senate Committee Substitute, committee amendment (1-title) ; passed 97-0; enrolled, signed by Speaker of the House
Apr 15-enrolled, signed by President of the Senate; delivered to Governor
Apr 24-signed by Governor (Acts Ch. 152)