Substitute for Raised H.B. No. 5232
Session Year 2016


To (1) update the Insurers Rehabilitation and Liquidation Act to reflect provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act, (2) provide that a transfer pursuant to a commutation of a reinsurance agreement shall not be voidable as a preference, (3) specify limits on when a party to a netting agreement or qualified financial contract with an insolvent insurer may exercise such party's right to terminate, liquidate, accelerate or close out obligations with respect to such agreement or contract, and (4) delete an obsolete provision concerning insurer receivership and make a conforming change.

Introduced by:
Insurance and Real Estate Committee

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Bill History

 Date Action Taken
 4/25/2016Senate Calendar Number 486
 4/25/2016Favorable Report, Tabled for the Calendar, Senate
 4/22/2016House Passed
 3/24/2016(LCO)File Number 174
 3/24/2016House Calendar Number 139
 3/24/2016Favorable Report, Tabled for the Calendar, House
 3/24/2016(LCO)Reported Out of Legislative Commissioners' Office
 3/18/2016(LCO)Referred to Office of Legislative Research and Office of Fiscal Analysis 03/23/16 5:00 PM
 3/11/2016(LCO)Filed with Legislative Commissioners' Office
 3/11/2016(INS)Joint Favorable Substitute
 2/26/2016Public Hearing 03/01
 2/16/2016Referred to Joint Committee on Insurance and Real Estate

Co-sponsors of HB-5232

Sen. Joseph J. Crisco, 17th Dist.

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