California Assembly Bill AB2367 Introduced / Bill

 BILL NUMBER: AB 2367INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Charles Calderon FEBRUARY 19, 2010 An act to amend Section 923 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGEST AB 2367, as introduced, Charles Calderon. Insurance: insurer: financial statements. Existing law requires the commissioner to require every insurer filing an annual or quarterly statement to use the statement blanks and applicable instructions for the appropriate year adopted by the National Association of Insurance Commissioners (NAIC). The commissioner is authorized to make changes from time to time in the form of the statements and the number and method of filing reports as seem to him or her best adapted to elicit from the insurers a true exhibit of their financial condition. The commissioner is required to notify each insurer of any changes from the NAIC's statement blanks that the commissioner has determined to be appropriate. This bill would require that the notification to each insurer of any changes from the NAIC's statement blanks that the commissioner has determined to be appropriate be in writing. Vote: majority. Appropriation: no. Fiscal committee: yes. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 923 of the Insurance Code is amended to read: 923. The commissioner shall require every insurer  which   that  is required to file an annual or quarterly statement to use the statement blanks and instructions thereto for the appropriate year adopted by the National Association of Insurance Commissioners  (NAIC)  . The statements shall be completed in conformity with the Accounting Practices and Procedures Manual adopted by the  National Association of Insurance Commissioners   NAIC  , to the extent that the practices and procedures contained in the manual do not conflict with any other provision of this code. The commissioner may make changes from time to time in the form of the statements and the number and method of filing reports as seem to him or her best adapted to elicit from the insurers a true exhibit of their condition. The commissioner shall notify each insurer  in writing  of any changes from the  National Association of Insurance Commissioners'   NAIC's  statement blanks  which   that  the commissioner has determined pursuant to this section to be appropriate.