SHB 1257 -
By Senators Fraser, Hobbs, Benton
ADOPTED 04/11/2011
On page 17, line 1, after "before" strike "January" and insert "July"
On page 17, line 2, after "after" strike "January" and insert "July"
On page 17, after line 37, insert the following:
"NEW SECTION. Sec. 19 (1) By December 1, 2011, the insurance
commissioner must submit a report to the governor and appropriate
committees of the legislature, providing the following information:
(a) The estimated total dollar amount of insurance company assets
affected by this act;
(b) An analysis outlining the pertinent investment changes made in
this act and the reasons for such changes;
(c) An analysis detailing any projected risks to policyholders and
taxpayers associated with the implementation of this act and any
provisions included in this act to protect such stakeholders against
such risks;
(d) A copy of proposed rules to implement this act;
(e) A general outline of any managerial and personnel modifications
required in the office of the insurance commissioner to implement this
act;
(f) An explanation describing why an insurance company's investment
policy must be exempt from public disclosure and subpoena; and
(g) An analysis identifying other states that have: (i) Adopted
this model legislation in both substantial or limited part, and the
reasons for such decision; and (ii) explicitly chosen not to adopt this
model legislation and the reasons for such decision.
(2) In preparing the report the commissioner shall consult with the
department of financial institutions and the state investment board."
Renumber the remaining sections consecutively and correct any internal references accordingly.
On page 22, line 33, after "effect" strike "January" and insert "July"
SHB 1257 -
By Senators Fraser, Hobbs, Benton
ADOPTED 04/11/2011
On page 1, line 3 of the title, after "48.13 RCW;" insert "creating a new section;"
EFFECT: Changes the effective date of the act to July 1, 2012. Requires the commissioner to submit a report by December 1, 2011, to the governor and legislature regarding the effects associated with implementing the model act.