14RS HB375
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HB375

14RS

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HB 375 (BR 1450) - R. Damron

     AN ACT authorizing associations and member underwriters authorized to transact insurance in this state to also qualify as eligible surplus lines insurers.
     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.

     Feb 11-introduced in House
     Feb 12-to Banking & Insurance (H)
     Feb 19-posted in committee
     Feb 26-reported favorably, 1st reading, to Consent Calendar
     Feb 27-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Tuesday, March 4, 2014
     Mar 4-3rd reading, passed 97-0
     Mar 5-received in Senate
     Mar 7-to Banking & Insurance (S)
     Mar 18-reported favorably, 1st reading, to Consent Calendar
     Mar 19-2nd reading, to Rules
     Mar 20-posted for passage in the Consent Orders of the Day for Friday, March 21, 2014
     Mar 21-3rd reading, passed 38-0
     Mar 24-received in House
     Mar 25-enrolled, signed by Speaker of the House
     Mar 26-enrolled, signed by President of the Senate; delivered to Governor
     Apr 7-signed by Governor (Acts, ch. 36)

Vote History
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