hf 2805

THIRD ENGROSSMENT

Insurance regulation modernized, mutual holding company laws amended, interstate insurance product regulation compact enacted, and other changes provided.

ARTICLE 1 -- MUTUAL HOLDING COMPANY CHANGES

Section 1: Related term definitions modified.
Sec. 2: Mutual insurance holding company regulation formation policies modified.
Sec. 3: Commissioner approval of reorganization plan requirements clarified.
Sec. 4: Conversion provided.
Sec. 5-6: Technical changes.
Sec. 7: Life insurance company member regulations clarified.
Sec. 8: Effective date.

ARTICLE 2 -- INTERSTATE INSURANCE PRODUCT REGULATION COMPACT
Section 1: Compact enacted and provided.
Sec. 2: Consultation and reporting.

ARTICLE 3 -- MISCELLANEOUS INSURANCE REGULATORY CHANGES
Sections 1-5: Miscellaneous and technical changes.

AME
3/31/05