1194-S AMS KLIN ROEJ 041

SHB 1194 - S AMD TO S-2268.3 277

By Senator Kline

NOT CONSIDERED 05/25/2011

    On page 3, beginning on line 29, insert "NEW SECTION. Sec. 5. A new section is added to chapter 48.19 RCW to read as follows: 

    Surety insurance, as defined in RCW 48.11.080, shall be subject to the rate standard set forth in RCW 48.19.020.  The rate standard shall be set at a minimum of five percent."

    Renumber the remaining sections consecutively and correct any internal references accordingly.

EFFECT:   Provides that surety rates are subject to the regulation and approval of the Office of the Insurance Commissioner and shall not be set below five percent. 

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