Bill Text: CA AB2367 | 2009-2010 | Regular Session | Amended
Bill Title: Insurance: insurer: financial statements.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2010-08-26 - To inactive file on motion of Senator Calderon. [AB2367 Detail]
Download: California-2009-AB2367-Amended.html
BILL NUMBER: AB 2367 AMENDED
BILL TEXT
AMENDED IN SENATE JUNE 21, 2010
INTRODUCED BY Assembly Member Charles Calderon
FEBRUARY 19, 2010
An act to amend Section 923 of the Insurance Code, relating to
insurance.
LEGISLATIVE COUNSEL'S DIGEST
AB 2367, as amended, Charles Calderon. Insurance: insurer:
financial statements.
Existing law requires the commissioner to require every insurer
filing an annual or quarterly statement to use the statement blanks
and applicable instructions for the appropriate year adopted by the
National Association of Insurance Commissioners (NAIC). The
commissioner is authorized to make changes from time to time in the
form of the statements and the number and method of filing reports as
seem to him or her best adapted to elicit from the insurers a true
exhibit of their financial condition. The commissioner is required to
notify each insurer of any changes from the NAIC's statement blanks
that the commissioner has determined to be appropriate.
This bill would require that the notification to each insurer of
any changes from the NAIC's statement blanks that the commissioner
has determined to be appropriate be in writing
made electronically .
Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 923 of the Insurance Code is amended to read:
923. The commissioner shall require every insurer that is
required to file an annual or quarterly statement to use the
statement blanks and instructions thereto for the appropriate year
adopted by the National Association of Insurance Commissioners
(NAIC). The statements shall be completed in conformity with the
Accounting Practices and Procedures Manual adopted by the NAIC, to
the extent that the practices and procedures contained in the manual
do not conflict with any other provision of this code. The
commissioner may make changes from time to time in the form of the
statements and the number and method of filing reports as seem to him
or her best adapted to elicit from the insurers a true exhibit of
their condition. The commissioner shall notify each insurer
in writing electronically of any changes from
the NAIC's statement blanks that the commissioner has determined
pursuant to this section to be appropriate.
