FINAL BILL REPORT

                      HB 1480

                                 C 266 L 91

                            Synopsis As Enacted

Brief Description:  Allowing reciprocal insurer to affect title to real property.

By Representatives R. Meyers, Mielke, Heavey, Broback, Zellinsky and Paris.

House Committee on Financial Institutions & Insurance

Senate Committee on Financial Institutions & Insurance

Background:  A reciprocal insurer, often referred to as an exchange, is an unincorporated group of persons who join together to insure each other.  The group of persons execute a power of attorney agreement authorizing a person or organization to act as the attorney in fact to transact the day to day business of the group.

Summary:  The insurance code provisions governing reciprocal insurers are amended to authorize real estate transactions conducted by and through the reciprocal's attorney in fact.

Votes on Final Passage:

House 96    0

Senate   46    0

Effective:     July 28, 1991