California Assembly Bill AB2746 Introduced / Bill

 BILL NUMBER: AB 2746INTRODUCED BILL TEXT INTRODUCED BY Assembly Member Blakeslee FEBRUARY 19, 2010 An act to amend Section 12920 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGEST AB 2746, as introduced, Blakeslee. Insurance Commissioner: powers and duties. Existing law requires the Insurance Commissioner to determine the sufficiency and validity of all securities required to be given by persons engaged, or to be engaged, in the insurance business and cause the security to be supplemented or renewed in case of insufficiency or invalidity of the security. This bill would make technical, nonsubstantive changes to that provision. Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no. THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS: SECTION 1. Section 12920 of the Insurance Code is amended to read: 12920. The commissioner shall determine the sufficiency and validity of all securities required to be given by persons engaged, or to be engaged, in  the  insurance business, and shall cause  such   that  security to be supplemented or renewed in case of the insufficiency or invalidity  thereof   of the security  .