California Senate Bill SB50 Latest Draft

 BILL NUMBER: SB 50INTRODUCED BILL TEXT INTRODUCED BY Senator Walters DECEMBER 19, 2014 An act to amend Section 1853.5 of the Insurance Code, relating to insurance. LEGISLATIVE COUNSEL'S DIGEST SB 50, as introduced, Walters. Insurance rates. Under existing law, for specified purposes, 2 or more admitted insurers having a common ownership or operating in this state under common management or control may act in concert between or among themselves as if they constituted a single insurer. This bill would make technical, nonsubstantive changes to these provisions. 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 1853.5 of the Insurance Code is amended to read: 1853.5. With respect to  any matters pertaining to  the making of rates or rating systems, the preparation or making of insurance policy or bond forms, underwriting rules, surveys, inspections and investigations, the furnishing of loss or expense statistics or other information and data, or carrying on of research, two or more admitted insurers having a common ownership or operating in this  State   state  under common management or  control,   control  are hereby authorized to act in concert between or among themselves  the same  as if they  constituted   were  a single  insurer,   insurer  and  ,  to the extent that  such   those  matters relate to  co-surety   cosurety  bonds, two or more admitted insurers executing  such   those  bonds are hereby authorized to act in concert between or among themselves  the same  as if they constituted a single insurer.