Legislative Session number- 84

Bill Name: SF2787

Relating to insurance

ARTICLE 1 - MUTUAL HOLDING COMPANY CHANGES

Modifying
the definition of eligible member and policy; prohibiting policyholders of other
insurance company subsidiaries of a mutual insurance holding company from being
members of the mutual insurance holding company, exceptions; requiring
reorganization plans to provide for describing a plan to send or otherwise make
available to members the annual report and financial statement; authorizing a
domestic insurance company previously reorganized into a stock subsidiary of a
mutual insurance holding company to convert into a mutual insurance company with
commissioner of commerce approval

ARTICLE 2 - INTERSTATE INSURANCE PRODUCT
REGULATORY COMPACT

Enacting the Interstate Insurance Product Regulation Compact
Act; specifying the form

ARTICLE 3 - MISCELLANEOUS INSURANCE REGULATORY
CHANGES

Eliminating the requirement for certain surplus lines insurance
policies to be stamped in red ink; modifying the date for registration of
insurers; modifying commissioner of commerce criteria for course accreditation;
authorizing licensees to obtain up to a certain number of credit hours per
licensing period from classes in the area of professional development; providing
for reinsurance of an affiliated insurance company
(ra)