WA People
BILL · 2005–06 SESSION

HB 1032: Interstate insurance compact

Adopting the interstate insurance product regulation compact.

Summary

  • Washington would join or compact with other states to create a multi-state entity called the Interstate Insurance Product Regulation Commission (Commission).
  • The Commission will adopt national uniform standards for life insurance, annuity, disability income, and long-term care products and receive, review, and approve product filings and advertisements.
  • Insurers wishing to sell products in Washington could choose to file them with the Office of the Insurance Commissioner (OIC) under state law and regulations or with the Interstate Insurance Product Regulation Commission under uniform national standards.

From the House Bill Report (HB 1032), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 92, Laws of 2005
  1. IntroducedJan 11, 2005
  2. Out of committeeJan 25, 2005
  3. Passed HouseMar 4, 2005
  4. Passed SenateApr 6, 2005
  5. GovernorApr 20, 2005
  6. LawApr 20, 2005
Prime sponsor
Steve Kirby (D-29)
Introduced
January 11, 2005 in the House
Last action
April 20, 2005
Session law
Chapter 92, Laws of 2005
Requested by
Other
Companion bill
SB 5195
Budget
Has a fiscal note

AN ACT Relating to adopting the interstate insurance product regulation compact;

Sponsors

Prime sponsor: Steve Kirby (D-29)

3 co-sponsors (2 Democrats, 1 Republican)

Dan Roach R-31Geoff Simpson D-47Shay Schual-Berke D-33

Votes

House · Final Passage

Passed March 4, 2005
Version voted on: HB 1032
96 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat54002
Republican42000
How each member voted

Yea (96)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed April 6, 2005
Version voted on: HB 1032
46 Yea 0 Nay 2 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat23021
Republican23000
How each member voted

Yea (46)

Absent (2)

Excused (1)

Permalink to this vote

History

  1. Governor signed.
  2. Effective date 7/24/2005.
  3. Chapter 92, 2005 Laws.
  4. Delivered to Governor.
  5. President signed.
  6. Speaker signed.
  7. Third reading, passed; yeas, 46; nays, 0; absent, 2; excused, 1.
  8. Rules suspended. Placed on Third Reading.
  9. Placed on second reading by Rules Committee.
  10. Made eligible to be placed on second reading.
  11. Passed to Rules Committee for second reading.
  12. FHC - Majority; do pass.
  13. First reading, referred to Financial Institutions, Housing & Consumer Protection.
  14. Third reading, passed; yeas, 96; nays, 0; absent, 0; excused, 2.
  15. Rules suspended. Placed on Third Reading.
  16. Placed on second reading by Rules Committee.
  17. Made eligible to be placed on second reading.
  18. Passed to Rules Committee for second reading.
  19. FII - Majority; do pass.
  20. First reading, referred to Financial Institutions & Insurance.

HB 1032 in other sessions

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

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