Bill
SB 1073
85(R) - 2017
Senate Business & Commerce
Senate Business & Commerce
Insurance
Vote Recommendation
Neutral
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Neutral
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Neutral
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Neutral
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Neutral
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Neutral
Author(s)
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