Bob Blumenfield
- Democratic
Author
Existing law prohibits domestic insurers from acquiring foreign investments from or located in foreign jurisdictions designated as state sponsors of terrorism by the United States Secretary of State. Existing law, the Iran Contracting Act of 2010, provides that a person whose name appears on a list developed or contracted for development by the Department of General Services as a person determined by the department to be engaged in investment activities in Iran is ineligible to bid on, submit a proposal for, enter into, or renew a contract with a public entity. This bill would require that above-referenced investments by a domestic insurer in companies that are included on the list maintained by the Department of General Services be treated as nonadmitted assets on the financial statements of the domestic insurer. The bill would deem use of the list developed for purposes of the Iran Contracting Act of 2010 as automatic compliance with these requirements. The bill would require the insurer to provide the Department of Insurance, on an annual basis, with a list of the investments the insurer has in companies included on the Department of General Services list.
Approved by the Governor.
Chaptered by Secretary of State - Chapter 479, Statutes of 2012.
Enrolled and presented to the Governor at 4:30 p.m.
Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 73. Noes 4. Page 6107.).
In Assembly. Concurrence in Senate amendments pending. May be considered on or after August 22 pursuant to Assembly Rule 77.
Read third time. Passed. Ordered to the Assembly. (Ayes 38. Noes 1. Page 4588.).
Read second time. Ordered to third reading.
Read third time and amended. Ordered to second reading.
Read second time. Ordered to third reading.
From committee: Do pass. (Ayes 9. Noes 0.) (June 28).
From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on INS.
Read third time. Passed. Ordered to the Senate. (Ayes 63. Noes 4. Page 4975.)
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time and amended. Ordered to third reading. (Page 4911.)
Read second time. Ordered to third reading.
Read second time and amended. Ordered to second reading.
From committee: Do pass as amended. (Ayes 8. Noes 3.) (May 2).
From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended.
From printer. May be heard in committee March 25.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2160 | HTML |
| 02/23/12 - Introduced | |
| 04/30/12 - Amended Assembly | |
| 05/09/12 - Amended Assembly | |
| 05/21/12 - Amended Assembly | |
| 06/12/12 - Amended Senate | |
| 08/06/12 - Amended Senate | |
| 08/27/12 - Enrolled | |
| 09/23/12 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
Data on Open States is updated periodically throughout the day from the official website of the California State Legislature.
If you notice any inconsistencies with these official sources, feel free to file an issue.