Bills › 90th General Assembly
Where it is now
- Done: IntroducedJanuary 31, 2024
- Done: SubcommitteeJanuary 31, 2024
- Done: Senate committeeFebruary 14, 2024
- Skipped: Passes the SenateContinued as SF 2361
- Next: House committee
- Next: Passes the House
- Next: To the Governor
- Next: Signed into law
Became SF 2361 → Its progress continues under the new number. Go to SF 2361 What’s a funnel?
What’s in it
AI summary Insurance companies that change their structure from a mutual company to a holding company must follow new naming rules. If these companies want to keep 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 by forming a holding company or by merging their membership interests.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”.
Senate subcommittee
Named January 31, 2024. On February 8, 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
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90th General Assembly