California Senate Bill SB1378 Introduced / Bill

 BILL NUMBER: SB 1378INTRODUCED BILL TEXT INTRODUCED BY Senator Huff FEBRUARY 21, 2014 An act to amend Section 900 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGEST SB 1378, as introduced, Huff. Insurance: annual statements. Existing law requires every insurer, each year on or before the first day of March, to make and file with the Insurance Commissioner in the number, form, and by the methods prescribed by the commissioner, statements exhibiting its condition and affairs as of the previous December 31. 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 900 of the Insurance Code is amended to read: 900. (a)  On or before the first day of March of each   Each  year  , on or before the first day of March,  every insurer doing business in this state shall make and file with the commissioner, in the number, form, and by the methods prescribed by the commissioner, statements exhibiting its condition and affairs as of the previous December 31. If the first day of March falls on a day other than a business day, the filing is due to the commissioner by the first business day preceding the first day of March. (b) Each year, on or before the following dates, every insurer doing business in this state shall make and file with the commissioner, in the number, form, and methods prescribed by the commissioner, statements exhibiting its condition and affairs for the period beginning on January 1 of the current calendar year through the end of each quarter of the current year as described below. These quarterly filings shall cover the period of time beginning January 1 of the current year through and including the last day of the quarter for which the report is being made. The first quarter filing shall be filed with the commissioner on or before May  15th   15  of every year. The second quarter filing shall be filed with the commissioner on or before August  15th   15  of every year. The third quarter filing shall be filed with the commissioner on or before November  15th   15  of every year. If any of these dates fall on a day other than a business day, then the filing is due to the commissioner by the first business day preceding that date.