Jared William Huffman
- Democratic
Author
Existing law requires the Insurance Commissioner to promulgate regulations for the computation of the amount of reserves to be maintained by each insurer transacting business in this state. Under existing law, the minimum reserve requirement prescribed by the commissioner pursuant to those regulations cannot be less than 60% of certain liability insurers' earned premiums during each year less the amount already paid for related incidental losses and expenses, as specified. This bill would remove the 60% reserve requirement for those liability insurers and allow the Insurance Commissioner to prescribe the minimum reserve requirement by regulation.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 61, Statutes of 2010.
Enrolled and to the Governor at 11:15 a.m.
In Assembly. To enrollment.
Read third time, passed, and to Assembly. (Ayes 31. Noes 0. Page 4057.)
Read second time. To Consent Calendar.
From committee: Do pass. To Consent Calendar. (June 16).
Read third time, passed, and to Senate. (Ayes 70. Noes 0. Page 4688.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read second time. To Consent Calendar.
From committee: Do pass. To Consent Calendar. (April 7).
From printer. May be heard in committee March 20.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2002 | HTML |
| 02/17/10 - Introduced | |
| 06/25/10 - Enrolled | |
| 07/09/10 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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