Virginia House Bill 154 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Passed on March 10 2020 - 100% progression
Action: 2020-03-10 - Governor: Acts of Assembly Chapter text (CHAP0208)
Text: Latest bill text (Chaptered) [HTML]

Reinsurance credits. Conforms Virginia's law regarding credits to insurers for reinsurance ceded to approved assuming insurers to the provisions of the Credit for Reinsurance Model Law of the National Association of Insurance Commissioners. The bill eliminates the reinsurance collateral requirements for assuming insurers that are domiciled in or have their head office in a reciprocal jurisdiction, which is defined in the bill. Under the bill, such assuming insurers are required to maintain a minimum capital and surplus, maintain a minimal solvency or capital ratio, as applicable, and provide notice to the State Corporation Commission in the event of noncompliance of any requirements. The bill requires the Commission to create and publish a list of reciprocal jurisdictions and assuming insurers.

Reinsurance credits; conforms Virginia's law regarding credits to insurers for reinsurance, etc.

Del. Terry Kilgore [R]

2020-02-20 - Senate - Senate: Passed Senate (40-Y 0-N) (Y: 40 N: 0 NV: 0 Abs: 0) [PASS]
2020-02-19 - Senate - Senate: Constitutional reading dispensed (39-Y 0-N) (Y: 39 N: 0 NV: 1 Abs: 0) [PASS]
2020-02-17 - Senate - Senate: Reported from Commerce and Labor (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-22 - House - House: VOTE: (100-Y 0-N) (Y: 100 N: 0 NV: 0 Abs: 0) [PASS]
2020-01-16 - House - House: Reported from Labor and Commerce with substitute (22-Y 0-N) (Y: 22 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2020-03-10		Governor: Acts of Assembly Chapter text (CHAP0208)
2020-03-10		Governor: Approved by Governor-Chapter 208 (effective 7/1/20)
2020-03-03		Governor: Governor's Action Deadline 11:59 p.m., March 10, 2020
2020-03-03	House	Enrolled Bill communicated to Governor on March 3, 2020
2020-02-26	Senate	Signed by President
2020-02-25	House	Signed by Speaker
2020-02-25	House	Bill text as passed House and Senate (HB154ER)
2020-02-25	House	Enrolled
2020-02-20	Senate	Passed Senate (40-Y 0-N)
2020-02-20	Senate	Read third time
2020-02-19	Senate	Constitutional reading dispensed (39-Y 0-N)
2020-02-17	Senate	Reported from Commerce and Labor (15-Y 0-N)
2020-01-23	Senate	Referred to Committee on Commerce and Labor
2020-01-23	Senate	Constitutional reading dispensed
2020-01-22	House	VOTE: (100-Y 0-N)
2020-01-22	House	Read third time and passed House BLOCK VOTE (100-Y 0-N)
2020-01-21	House	Engrossed by House - committee substitute HB154H1
2020-01-21	House	Committee substitute agreed to 20104676D-H1
2020-01-21	House	Read second time
2020-01-20	House	Read first time
2020-01-16	House	Committee substitute printed 20104676D-H1
2020-01-16	House	Reported from Labor and Commerce with substitute (22-Y 0-N)
2019-12-19	House	Referred to Committee on Labor and Commerce
2019-12-19	House	Prefiled and ordered printed; offered 01/08/20 20102589D

Chapter	Article	Section	Citation Type	Statute Text
38	2	1316.1	(n/a)	See Bill Text
38	2	1316.2	(n/a)	See Bill Text
38	2	1316.4	(n/a)	See Bill Text
38	2	1316.7	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?201+sum+HB154
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB154+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB154H1+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+HB154ER+hil
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+CHAP0208+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+H14V0004+HB0154
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+HV0030+HB0154
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+S02V0167+HB0154
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0734HB0154+HB0154
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?201+vot+SV0751HB0154+HB0154