Kentucky House Bill 375 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Passed on April 7 2014 - 100% progression
Action: 2014-04-07 - signed by Governor (Acts, ch. 36)
Text: Latest bill text (Draft #2) [MS Word]

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.

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

Rep. Robert Damron [D]

Date	Chamber	Action
2014-04-07	House	signed by Governor (Acts, ch. 36)
2014-03-26	House	delivered to Governor
2014-03-26	House	enrolled, signed by President of the Senate
2014-03-25	House	enrolled, signed by Speaker of the House
2014-03-24	House	received in House
2014-03-21	Senate	3rd reading, passed 38-0
2014-03-20	Senate	posted for passage in the Consent Orders of the Day for Friday, March 21, 2014
2014-03-19	Senate	2nd reading, to Rules
2014-03-18	Senate	reported favorably, 1st reading, to Consent Calendar
2014-03-07	Senate	to Banking & Insurance (S)
2014-03-05	Senate	received in Senate
2014-03-04	House	3rd reading, passed 97-0
2014-02-27	House	posted for passage in the Consent Orders of the Day for Tuesday, March 4, 2014
2014-02-27	House	2nd reading, to Rules
2014-02-26	House	reported favorably, 1st reading, to Consent Calendar
2014-02-19	House	posted in committee
2014-02-12	House	to Banking & Insurance (H)
2014-02-11	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/14RS/HB375.htm
Text	http://www.lrc.ky.gov/record/14RS/HB375/bill.doc
Supplement	http://www.lrc.ky.gov/record/14RS/HB375/vote_history.pdf