Kentucky House Bill 220 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 2-0)
Status: Passed on March 26 2019 - 100% progression
Action: 2019-03-26 - signed by Governor (KY Acts ch. 156)
Text: Latest bill text (Engrossed) [PDF]

Create a new section of Subtitle 3 of KRS Chapter 304 to require insurers to file Corporate Governance Annual Disclosures with the Department of Insurance; specify the form and contents of the disclosures; allow insurers to comply with the section by cross-referencing other existing relevant and applicable documents; specify the level at which information shall be reported; require insurers to maintain documentation and support for information provided in the disclosure; specify the format for disclosures filed after the initial disclosure; classify disclosure-related filings, documents, and information as confidential and privileged; permit certain use and sharing of disclosure-related filings, documents, and information; permit the commissioner to retain third-party consultants and the National Association of Insurance Commissioners to assist in review of the disclosures; specify requirements for persons retained by the commissioner; amend KRS 304.37-010 to alphabetize definitions and to add definitions for "groupwide supervisor" and "internationally active insurance group"; create a new section of Subtitle 37 of KRS Chapter 304 to authorize the commissioner to act as or acknowledge another regulatory official as a groupwide supervisor for an internationally active insurance group; establish factors to be considered in making a determination of groupwide supervisor; establish criteria for when the commissioner shall acknowledge another regulatory official acting as a groupwide supervisor; authorize the commissioner to collect information; require the commissioner to make certain notifications; establish the commissioner's authority when acting as a groupwide supervisor; require certain insurers to pay the reasonable expenses of the commissioner's participation in the administration of the section; amend KRS 304.37-050 to classify information reported or provided to the department under KRS 304.37-030 and Section 3 of the Act as confidential and privileged and make technical corrections; amend KRS 304.3-090, 304.3-400, 304.24-290, and 304.37-130 to conform.

AN ACT relating to the supervision of insurance companies.

Rep. Derek Lewis [R]

Rep. Bart Rowland [R]

2019-03-14 - Senate - Senate: Third Reading RSN# 1040 (Y: 37 N: 0 NV: 0 Abs: 0) [PASS]
2019-02-15 - House - House: Third Reading RCS# 58 (Y: 96 N: 0 NV: 0 Abs: 4) [PASS]

Date	Chamber	Action
2019-03-26	House	signed by Governor (KY Acts ch. 156)
2019-03-14	House	delivered to Governor
2019-03-14	House	enrolled, signed by President of the Senate
2019-03-14	House	enrolled, signed by Speaker of the House
2019-03-14	House	received in House
2019-03-14	Senate	3rd reading, passed 37-0
2019-03-14	Senate	posted for passage in the Consent Orders of the Day for Thursday, March 14, 2019
2019-03-13	Senate	2nd reading, to Rules
2019-03-12	Senate	reported favorably, 1st reading, to Consent Calendar
2019-02-19	Senate	to Banking & Insurance (S)
2019-02-15	Senate	received in Senate
2019-02-15	House	3rd reading, passed 96-0
2019-02-14	House	posted for passage in the Consent Orders of the Day for Friday, February 15, 2019
2019-02-14	House	2nd reading, to Rules
2019-02-13	House	reported favorably, 1st reading, to Consent Calendar
2019-02-07	House	posted in committee
2019-02-06	House	to Banking & Insurance (H)
2019-02-05	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/19RS/hb220.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/19RS/hb220/orig_bill.pdf
Text	https://apps.legislature.ky.gov/recorddocuments/bill/19RS/hb220/bill.pdf
Roll Call	https://apps.legislature.ky.gov/record/19RS/hb220/vote_history.pdf