Virginia Senate Bill 406 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on March 5 2014 - 100% progression
Action: 2014-03-05 - Governor: Acts of Assembly Chapter text (CHAP0159)
Text: Latest bill text (Chaptered) [HTML]

Insurance companies; permitted investments in foreign securities. Increases the portion of a domestic insurer's total admitted assets that may be invested in permitted securities of a foreign country from 10 to 15 percent. The measure also increases the aggregate amount of securities of a single foreign country in which a domestic insurer may invest from 3 percent to 5 percent of the insurer's admitted assets if the foreign jurisdiction has a sovereign debt rating of SVO 1. If the foreign jurisdiction's sovereign debt rating is not SVO 1, the maximum amount of its securities in which the insurer may invest remains 3 percent. Finally, the measure allows investments in securities of foreign jurisdictions to be payable in currencies of foreign countries if the investment is effectively hedged, substantially in its entirety, against U.S. currency.

Insurance companies; permitted investments in foreign securities.

Sen. Stephen Newman [R]

Sen. Jeffrey McWaters [R]

2014-02-18 - House - House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (Y: 99 N: 0 NV: 2 Abs: 0) [PASS]
2014-02-13 - House - House: Reported from Commerce and Labor (20-Y 0-N) (Y: 21 N: 0 NV: 1 Abs: 0) [PASS]
2014-01-17 - Senate - Senate: Read third time and passed Senate (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 0) [PASS]
2014-01-15 - Senate - Senate: Constitutional reading dispensed (38-Y 0-N) (Y: 38 N: 0 NV: 0 Abs: 0) [PASS]
2014-01-13 - Senate - Senate: Reported from Commerce and Labor (14-Y 0-N) (Y: 14 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2014-03-05		Governor: Acts of Assembly Chapter text (CHAP0159)
2014-03-05		Governor: Approved by Governor-Chapter 159 (effective 7/1/14)
2014-02-22	Senate	Signed by President
2014-02-20	House	Signed by Speaker
2014-02-20	Senate	Bill text as passed Senate and House (SB406ER)
2014-02-20	Senate	Enrolled
2014-02-18	House	VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
2014-02-18	House	Passed House BLOCK VOTE (97-Y 0-N)
2014-02-18	House	Read third time
2014-02-17	House	Read second time
2014-02-13	House	Reported from Commerce and Labor (20-Y 0-N)
2014-01-23	House	Referred to Committee on Commerce and Labor
2014-01-23	House	Read first time
2014-01-23	House	Placed on Calendar
2014-01-17	Senate	Read third time and passed Senate (38-Y 0-N)
2014-01-16	Senate	Read second time and engrossed
2014-01-15	Senate	Constitutional reading dispensed (38-Y 0-N)
2014-01-13	Senate	Reported from Commerce and Labor (14-Y 0-N)
2014-01-07	Senate	Referred to Committee on Commerce and Labor
2014-01-07	Senate	Prefiled and ordered printed; offered 01/08/14 14102348D

HB466 (Same As) 2014-03-07 - Governor: Acts of Assembly Chapter text (CHAP0206)

Chapter	Article	Section	Citation Type	Statute Text
38	2	1414	(n/a)	See Bill Text
38	2	1433	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+SB406
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB406+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+SB406ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+CHAP0159+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+S02V0011+SB0406
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0050SB0406+SB0406
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+SV0064SB0406+SB0406
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+H14V0117+SB0406
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?141+vot+HV0757+SB0406