VA HB82 | 2022 | Regular Session
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 6 2022 - 100% progression
Action: 2022-04-06 - Governor: Acts of Assembly Chapter text (CHAP0113)
Text: Latest bill text (Chaptered) [HTML]
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on April 6 2022 - 100% progression
Action: 2022-04-06 - Governor: Acts of Assembly Chapter text (CHAP0113)
Text: Latest bill text (Chaptered) [HTML]
Summary
Insurance holding company systems; group capital calculation and liquidity stress test. Requires that certain insurers that are members of an insurance holding company system file a group capital calculation in accordance with the National Association of Insurance Commissioners (NAIC) Group Capital Calculation Instructions and a liquidity stress test in accordance with the NAIC Liquidity Stress Test Framework. The bill provides exceptions to such reporting requirements and contains various provisions regarding the confidentiality of information contained in such reports. The bill authorizes the State Corporation Commission to require a deposit or bond when an insurer that is a member of an insurance holding company system is in a hazardous financial condition or a condition that would be grounds for the supervision, conservation, or delinquency proceeding.
Title
Insurance holding company systems; group capital calculation and liquidity stress test.
Sponsors
Roll Calls
2022-03-03 - Senate - Senate: Passed Senate (39-Y 0-N) (Y: 39 N: 0 NV: 0 Abs: 1) [PASS]
2022-03-02 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-28 - Senate - Senate: Reported from Commerce and Labor (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-24 - House - House: VOTE: (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2022-01-18 - House - House: Reported from Commerce and Energy (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
2022-03-02 - Senate - Senate: Constitutional reading dispensed (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2022-02-28 - Senate - Senate: Reported from Commerce and Labor (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2022-01-24 - House - House: VOTE: (99-Y 0-N) (Y: 99 N: 0 NV: 0 Abs: 1) [PASS]
2022-01-18 - House - House: Reported from Commerce and Energy (21-Y 0-N) (Y: 21 N: 0 NV: 0 Abs: 1) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-04-06 | Governor: Acts of Assembly Chapter text (CHAP0113) | |
| 2022-04-06 | Governor: Approved by Governor-Chapter 113 (effective 7/1/22) | |
| 2022-03-22 | Governor: Governor's Action Deadline 11:59 p.m., April 11, 2022 | |
| 2022-03-22 | House | Enrolled Bill communicated to Governor on March 22, 2022 |
| 2022-03-08 | Senate | Signed by President |
| 2022-03-08 | House | Signed by Speaker |
| 2022-03-08 | House | Bill text as passed House and Senate (HB82ER) |
| 2022-03-08 | House | Enrolled |
| 2022-03-03 | Senate | Passed Senate (39-Y 0-N) |
| 2022-03-03 | Senate | Read third time |
| 2022-03-02 | Senate | Constitutional reading dispensed (40-Y 0-N) |
| 2022-02-28 | Senate | Reported from Commerce and Labor (15-Y 0-N) |
| 2022-01-25 | Senate | Referred to Committee on Commerce and Labor |
| 2022-01-25 | Senate | Constitutional reading dispensed |
| 2022-01-24 | House | VOTE: Block Vote Passage (99-Y 0-N) |
| 2022-01-24 | House | Read third time and passed House Block Vote (99-Y 0-N) |
| 2022-01-21 | House | Read second time and engrossed |
| 2022-01-20 | House | Read first time |
| 2022-01-18 | House | Reported from Commerce and Energy (21-Y 0-N) |
| 2022-01-05 | House | Referred to Committee on Commerce and Energy |
| 2022-01-05 | House | Prefiled and ordered printed; offered 01/12/22 22101310D |
Subjects
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 38 | 2 | 1322 | (n/a) | See Bill Text |
| 38 | 2 | 1329 | (n/a) | See Bill Text |
| 38 | 2 | 1330 | (n/a) | See Bill Text |
| 38 | 2 | 1333 | (n/a) | See Bill Text |
