Bills › 90th General Assembly
Relating to the reorganization of county and state mutual insurance associations, nonrenewal notices for automobile insurance, and nonrenewal notices by county and state mutual insurance associations, and including effective date provisions
Sponsored by the House Commerce Committee
Topics:Business & economyInsurance
Same legislation: HSB 652
Where it is now
- Done: IntroducedFebruary 5, 2024
- Done: SubcommitteeFebruary 5, 2024
- Done: House committeeFebruary 8, 2024
- Done: Passes the HouseFebruary 20, 202495–0
- Done: Senate committeeMarch 6, 2024
- Done: Passes the SenateApril 10, 202444–0
- Done: To the GovernorApril 23, 2024
- Done: Signed into lawMay 1, 2024
Signed into law What’s a funnel?
What’s in it
AI summary Certain local insurance companies in Iowa would be allowed to change how they are organized. These companies could form a larger holding company if they get permission from the insurance commissioner.1
Read the official explanation
This bill relates to the reorganization of county and state mutual insurance associations. The bill expands the current definition of a mutual insurer to include a domestic mutual property and casualty insurance company organized and licensed under Code chapter 518 or Code chapter 518A. Under the bill, a domestic mutual insurance company, defined as a company qualified and licensed in the state pursuant to Code chapters 518 and 518A, may reorganize, upon approval of the commissioner, by forming an insurance holding company pursuant to the requirements of Code section 521A.14.
Changed since by amendment S-5140; see Amendments.
Senate subcommittee
Named February 27, 2024. On March 5, 2024 it recommended passage. [].
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Iowa Code it changes
Lobbying
3 for · 0 against · 9 undecided · Who →
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90th General Assembly