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BILL · 2003–04 SESSION · LATEST VERSION SSB 5616

SB 5616: Insurer foreign investments

Concerning insurer foreign investments.

Summary

  • Authorizes an insurer to invest an aggregate amount of not more than 10 percent of its assets in the obligations of foreign governmental entities or the securities of foreign corporations.
  • Limits an insurer to investing not more than 5 percent of its assets in any one foreign country.

From the Substitute House Bill Analysis (SSB 5616), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 251, Laws of 2003
  1. IntroducedFeb 3, 2003
  2. Out of committeeFeb 24, 2003
  3. Passed SenateMar 11, 2003
  4. Passed HouseApr 14, 2003
  5. GovernorMay 12, 2003
  6. LawMay 12, 2003
Prime sponsor
Don Benton (R-17)
Introduced
February 3, 2003 in the Senate
Last action
May 12, 2003
Session law
Chapter 251, Laws of 2003
Versions
SB 5616, SSB 5616

AN ACT Relating to insurer foreign investments;

Sponsors

Prime sponsor: Don Benton (R-17)

6 co-sponsors (3 Democrats, 3 Republicans)

Margarita Prentice D-11Aaron Reardon D-38Joseph Zarelli R-18Shirley Winsley R-28Karen Keiser D-33Bill Finkbeiner R-45

Votes

Senate · 3rd Reading & Final Passage

Passed March 11, 2003
Version voted on: SSB 5616
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican25000
How each member voted

Yea (49)

Permalink to this vote

House · Final Passage

Passed April 14, 2003
Version voted on: SSB 5616
93 Yea 0 Nay 0 Absent 5 Excused
PartyYeaNayAbsentExcused
Democrat48004
Republican45001
How each member voted

Yea (93)

Excused (5)

Permalink to this vote

History

  1. Effective date 7/27/2003. (SSB 5616)
  2. Chapter 251, 2003 Laws. (SSB 5616)
  3. Governor signed. (SSB 5616)
  4. Delivered to Governor. (SSB 5616)
  5. Speaker signed. (SSB 5616)
  6. President signed. (SSB 5616)
  7. Third reading, passed; yeas, 93; nays, 0; absent, 0; excused, 5. (SSB 5616)
  8. Rules suspended. Placed on Third Reading. (SSB 5616)
  9. Placed on second reading by Rules Committee. (SSB 5616)
  10. Passed to Rules Committee for second reading. (SSB 5616)
  11. FII - Majority; do pass. (SSB 5616)
  12. FII - Executive action taken by committee. (SSB 5616)
  13. First reading, referred to Financial Institutions & Insurance. (SSB 5616)
  14. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0. (SSB 5616)
  15. Rules suspended. Placed on Third Reading. (SSB 5616)
  16. 1st substitute bill substituted. (SSB 5616)
  17. 1st substitute bill substituted.
  18. Placed on second reading by Rules Committee. (SSB 5616)
  19. Placed on second reading by Rules Committee.
  20. Made eligible to be placed on second reading. (SSB 5616)
  21. Made eligible to be placed on second reading.
  22. Passed to Rules Committee for second reading. (SSB 5616)
  23. Passed to Rules Committee for second reading.
  24. FSIH - Majority; 1st substitute bill be substituted, do pass. (SSB 5616)
  25. FSIH - Majority; 1st substitute bill be substituted, do pass.
  26. First reading, referred to Financial Services, Insurance & Housing.

SB 5616 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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