Kentucky House Bill 167 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Enrolled on March 4 2011 - 75% progression, died in chamber
Action: 2011-03-16 - signed by Governor
Text: Latest bill text (Draft #3) [MS Word]

Create a new section of KRS 304.10-010 to 304.10-210 to adopt the provisions of the Surplus Lines Insurance Multi-State Compliance Compact, including a preamble to explain the necessity of the legislation; Article I to state the purposes of the compact, including establishment of a clearinghouse for receipt and dissemination of premium tax and clearinghouse transaction data related to nonadmitted insurance of multi-state risks; Article II to define terms; Article III to establish the Surplus Lines Insurance Multi-State Compliance Compact Commission and its venue; Article IV to grant authority for the commission to establish mandatory rules; Article V to establish the powers of the commission; Article VI to establish the organization of the commission; Article VII to establish meetings and authorized acts of the commission; Article VIII to authorize rules and operation procedures and rulemaking functions of the ommission; Article IX to establish commission records requirements and enforce authority; Article X to establish a method of dispute resolution; Article XI to authorize review of commission decisions; Article XII to establish commission finance requirements; Article XIII to establish that any state is eligible to be a compacting state, the effective date of the compact, and the authority of the commission to propose future amendments to the compact; Article XIV to establish requirements for withdrawal from the compact, default of a compacting state, termination of a compacting state, and the method for dissolution of the compact; Article XV to establish severability of the terms of the compact and require liberal construction of the compact terms to effectuate the purpose of the compact; and Article XVI to recognize the priority of the enforcement of compacting state laws, except any law regarding non-admitted insurance of multi-state risks which are regulated and preempted by the compact; amend KRS 91A.080 and 304.10-180 to conform by prohibiting assessment of a local government premium tax on multi-state surplus lines in conformity with the Dodd-Frank Wall Street Reform and Consumer Protection Act; effective upon contingency.

AN ACT relating to the Surplus Lines Insurance Multi-State Compliance Compact.

Rep. Robert Damron [D]

Rep. Brent Yonts [D]

Date	Chamber	Action
2011-03-16		signed by Governor
2011-03-04		delivered to Governor
2011-03-04		enrolled, signed by each presiding officer
2011-03-04		passed 85-0
2011-03-04		House concurred in Senate Committee Substitute
2011-03-04		posted for passage for concurrence in Senate Committee Substitute
2011-03-04		received in House
2011-03-04		3rd reading, passed 37-0 with Committee Substitute
2011-03-03		posted for passage in the Consent Orders of the Day for Friday, March 4, 2011
2011-03-02		reported favorably, to Rules with Committee Substitute as a Consent Bill
2011-02-28		returned to State & Local Government (S)
2011-02-28		2nd reading
2011-02-28		taken from State & Local Government (S)
2011-02-25		returned to State & Local Government (S)
2011-02-25		1st reading
2011-02-25		taken from State & Local Government (S)
2011-02-16		to State & Local Government (S)
2011-02-14		received in Senate
2011-02-11		3rd reading, passed 95-0 with Committee Substitute
2011-02-10		posted for passage in the Consent Orders of the Day for Friday, February 11, 2011
2011-02-10		2nd reading, to Rules
2011-02-09		reported favorably, 1st reading, to Consent Calendar with Committee Substitute
2011-02-03		posted in committee
2011-01-05		to Banking & Insurance (H)
2011-01-04		introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/11RS/HB167.htm
Text	http://www.lrc.ky.gov/record/11RS/HB167/bill.doc