Bill Text: HI SB2767 | 2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Insurance; Insurance Guaranty Association

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-07-10 - (S) Act 250, 7/6/2012 (Gov. Msg. No. 1353). [SB2767 Detail]

Download: Hawaii-2012-SB2767-Amended.html

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STAND. COM. REP. NO.  996-12

 

Honolulu, Hawaii

                , 2012

 

RE:   S.B. No. 2767

      S.D. 2

 

 

 

 

Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Sixth State Legislature

Regular Session of 2012

State of Hawaii

 

Sir:

 

     Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 2767, S.D. 2, entitled:

 

"A BILL FOR AN ACT RELATING TO INSURANCE,"

 

begs leave to report as follows:

 

     The purpose of this measure is to update the Insurance Code to conform with the National Association of Insurance Commissioners' model acts relating to guaranty associations.

 

     The Department of Commerce and Consumer Affairs, Hawaii Insurance Guaranty Association, and Hawaii Life and Disability Insurance Guaranty Association testified in support of this measure.  The American Council of Life Insurers, American Insurance Association, and Property Casualty Insurers Association of America provided comments.

 

     As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2767, S.D. 2, and recommends that it pass Second Reading and be referred to the Committee on Finance.

 

 

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

 

		____________________________ ROBERT N. HERKES, Chair