Bill Text: OH HCR17 | 2009-2010 | 128th General Assembly | Introduced

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Bill Title: As Introduced 128th General AssemblyRegular Session2009-2010H. C. R. No. 17 Representative Dodd

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2009-05-06 - To Consumer Affairs & Economic Protection [HCR17 Detail]

Download: Ohio-2009-HCR17-Introduced.html

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As Introduced

128th General Assembly Regular Session 2009-2010

H. C. R. No. 17

Representative Dodd 

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A CONCURRENT RESOLUTION

To request that the members of the United States

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Congress refrain from enacting the Consumer

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Protection and Regulatory Modernization Act.

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BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES OF THE STATE OF OHIO
(THE SENATE CONCURRING):

WHEREAS, The Consumer Protection and Regulatory Modernization	4
Act would allow insurers and insurance producers to opt out of	5
state-based regulation, effectively dismantling existing	6
state-based consumer protections and would allow nearly any	7
function of the national insurance regulator to be carried out by	8
self-regulatory industry groups, effectively handing the keys of	9
supervision over to those being supervised; and	10

WHEREAS, The act additionally would authorize the formation	11
of a separate insurance guaranty fund for federally regulated	12
insurers and requires that federal insurance offices be set up in	13
all fifty states, concepts that are redundant to the more	14
comprehensive, national, state-based insurance regulatory system	15
already in place; and	16

WHEREAS, In light of the current financial turmoil, the	17
American people have called for strengthened regulatory systems —	18
not abdication of control to those who are regulated; and	19

WHEREAS, State insurance solvency oversight has kept	20
insurance companies stable and protected policyholders from the	21
worst of the financial meltdown, and state regulators continue to	22
provide a local response to consumer issues at no cost to federal	23
taxpayers; now therefore be it	24

RESOLVED, That we, the members of the 128th General Assembly	25
of the State of Ohio, hereby request that the United States	26
Congress refrain from enacting the Consumer Protection and	27
Regulatory Modernization Act; and be it further	28

RESOLVED, That the Clerk of the Senate transmit duly	29
authenticated copies of this resolution to the President of the	30
United States, to the Speaker and the Clerk of the United States	31
House of Representatives, to the President Pro Tempore and the	32
Secretary of the United States Senate, to the members of the Ohio	33
Congressional delegation, and to the news media of Ohio.	34