SB 1073

85(R) - 2017
Senate Business & Commerce
Senate Business & Commerce

Vote Recommendation

  • Neutral
  • Neutral
  • Neutral
  • Neutral
  • Neutral


Kelly Hancock

Bill Caption

Relating to registration statement and reporting requirements of insurers in an insurance holding company system.

Fiscal Notes

From the Legislative Budget Board: no significant fiscal implication to the state is anticipated.

Bill Analysis

Under current law, if the amount of a single transaction or the total amount of all transactions involving sales, purchases, exchanges, loans, or investments is more than the lesser one half of 1% of an insurer’s assets or 5% of an insurer’s surplus, the transaction or transactions are material for disclosure on a registration statement by an insurance holding company systems. 

SB 1073 would make a few procedural changes to the requirements so as to clarify when a report must be submitted and when a waiver may be applied for.

Vote Recommendation Notes

This is a procedural bill that deals with insurance reporting requirements and does not appear to have a connection to our liberty principles, therefore we remain neutral.

Organizations Supporting

American Insurance Association
National Association of Mutual Insurance Companies
Property Casualty Insurers Association of America
Texas Coalition for Affordable Insurance Solutions