Bills › 90th General Assembly
Where it is now
- Done: IntroducedJanuary 31, 2024
- Done: SubcommitteeJanuary 31, 2024
- Done: Senate committeeFebruary 14, 2024
- Done: Passes the SenateFebruary 21, 202446–0
- Done: House committeeMarch 14, 2024
- Done: Passes the HouseMarch 26, 202495–0
- Done: To the GovernorApril 10, 2024
- Done: Signed into lawApril 10, 2024
Signed into law What’s a funnel?
What’s in it
AI summary When certain insurance companies change their structure to become part of a holding company, they must follow new naming rules. If these companies want to keep using the word “mutual” in their name, they must also add the words “stock insurer” or the abbreviation “SI.” This rule applies to companies that reorganize or merge their membership interests into a new type of holding company.1
Read the official explanation
This bill relates to the naming requirements for reorganized insurance companies. A domestic mutual insurance company that reorganizes by forming an insurance holding company may continue to use the word “mutual” in its name provided that its name also includes the words “stock insurer”, or the abbreviation “SI”. A domestic mutual insurance company that reorganizes by merging its policyholders’ membership interests into a mutual insurance holding company may continue to use the word “mutual” in its name provided that its name also includes the words “stock insurer”, or the abbreviation “SI”.
House subcommittee
Named February 22, 2024. On February 29, 2024 it recommended passage. Vote Total: 3-0.
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
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90th General Assembly