Bill Text: CA AB480 | 2011-2012 | Regular Session | Amended

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Insurance: solid waste facilities.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2012-09-28 - Chaptered by Secretary of State - Chapter 713, Statutes of 2012. [AB480 Detail]

Download: California-2011-AB480-Amended.html

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BILL NUMBER: AB 480	AMENDED
	BILL TEXT

	AMENDED IN SENATE  JUNE 10, 2011
	AMENDED IN SENATE  JUNE 2, 2011

INTRODUCED BY   Assembly Member Solorio

                        FEBRUARY 15, 2011

   An act to  amend Section 1760 of   add
Section 1760.11 t   o  the Insurance Code, relating to
insurance.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 480, as amended, Solorio. Insurance: solid waste facilities.
   Existing law regulates solid waste facilities and requires that
any person owning or operating a solid waste landfill submit evidence
of financial ability to provide for the cost of closure and
postclosure maintenance, except as specified. Existing law provides
that if the evidence of financial ability for closure, postclosure,
or corrective action is demonstrated by use of insurance,  either
through an independent insurer or where the insurance carrier is
established by a solid waste facility operator to meet the financial
assurance obligations of that operator,  the insurance mechanism
may be approved if the insurance carrier meets specified
requirements.
   This bill would specify that an issuer of an insurance
policy   insurance carrier established by a solid waste
facility operator to meet the financial assurance obligations of that
operator  that meets all of those specified requirements shall
be eligible to provide that insurance and shall not be required to be
 an   a California  admitted insurer nor
be required to provide the insurance through a surplus line broker.
   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 1760.11 is added to the 
 Insurance Code   , to read:  
   1760.11.  Notwithstanding any other law, an issuer of an insurance
policy that meets all of the requirements of paragraph (2) of
subdivision (e) of Section 43601 of the Public Resources Code shall
be eligible to provide the insurance described in that subdivision.
An issuer of an insurance policy pursuant to this section shall not
be required to be a California admitted insurer, nor be required to
provide the insurance through a surplus line broker.  
  SECTION 1.    Section 1760 of the Insurance Code
is amended to read:
   1760.  (a) (1) Any person may negotiate and effect insurance to
protect himself, herself, or itself against loss, damage, or
liability with any nonadmitted insurer.
   (2) Notwithstanding any other law, an issuer of an insurance
policy that meets all of the requirements of paragraph (2) of
subdivision (e) of Section 43601 of the Public Resources Code shall
be eligible to provide the insurance described in that subdivision.
An issuer of an insurance policy pursuant to this paragraph shall not
be required to be an admitted insurer, nor be required to provide
the insurance through a surplus line broker.
   (b) Every person that effects insurance governed by this chapter
shall pay the tax imposed by Part 7.5 (commencing with Section 13201)
of Division 2 of the Revenue and Taxation Code.