General Assembly Raised Bill No. 29
February Session, 2016 LCO No. 451
*00451_______INS*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
General Assembly
Raised Bill No. 29
February Session, 2016
LCO No. 451
*00451_______INS*
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
(INS)
AN ACT CONCERNING PRIOR REVIEW OF INSURANCE DEPARTMENT GUIDELINES AND BULLETINS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective October 1, 2016) The Insurance Department shall submit to the joint standing committee of the General Assembly having cognizance of matters relating to insurance all guidelines and bulletins the department intends to issue. Such guidelines and bulletins shall be issued not earlier than sixty days after such submission. Such sixty-day period shall not apply if an emergency event occurs that poses a risk to life, limb or property in this state and the Insurance Commissioner determines that such occurrence necessitates the issuance of a guideline or bulletin prior to the expiration of such sixty-day period.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2016 New section
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2016
New section
Statement of Purpose:
To require that Insurance Department guidelines and bulletins be submitted to the joint standing committee of the General Assembly having cognizance of matters relating to insurance at least sixty days prior to being issued.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]