WA People
BILL · 2005–06 SESSION

HB 1034: Distressed insurers

Conducting the administrative supervision of financially distressed insurers.

Summary

  • Allows the Insurance Commissioner (Commissioner) to place an insurer under administrative supervision if the Commissioner makes a finding that one of several specific conditions is met.
  • Allows the Commissioner or an administrative supervisor appointed by the Commissioner to prevent an insurer under administrative supervision from undertaking various financial activities without the prior approval of the Commissioner or the administrative supervisor.
  • Permits an insurer an administrative hearing on any action or failure to act by the Commissioner. Permits an insurer to request consideration of an action of an administrative supervisor. Allows the insurer an administrative hearing if the request of the insurer is denied after reconsideration by the administrative supervisor.
  • Allows the Commissioner to adopt rules to implement this Act.

From the House Bill Report (HB 1034), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 432, Laws of 2005
  1. IntroducedJan 11, 2005
  2. Out of committeeFeb 3, 2005
  3. Passed HouseMar 9, 2005
  4. Passed SenateApr 11, 2005
  5. GovernorMay 13, 2005
  6. LawMay 13, 2005
Prime sponsor
Steve Kirby (D-29)
Introduced
January 11, 2005 in the House
Last action
May 13, 2005
Session law
Chapter 432, Laws of 2005
Requested by
Other
Companion bill
SB 5197
Budget
Has a fiscal note

AN ACT Relating to the administrative supervision of financially distressed insurers;

Sponsors

Prime sponsor: Steve Kirby (D-29)

2 co-sponsors (1 Democrat, 1 Republican)

Dan Roach R-31Geoff Simpson D-47

Votes

House · Final Passage

Passed March 9, 2005
Version voted on: HB 1034
96 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat56000
Republican40002
How each member voted

Yea (96)

Excused (2)

Permalink to this vote

Senate · 3rd Reading & Final Passage as Amended by the Senate

Passed April 11, 2005
Version voted on: HB 1034
42 Yea 0 Nay 5 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat21032
Republican21020
How each member voted

Excused (2)

Permalink to this vote

House · Final Passage as Amended by the Senate

Passed April 18, 2005
Version voted on: HB 1034
95 Yea 0 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat56000
Republican39003
How each member voted

Yea (95)

Excused (3)

Permalink to this vote

History

  1. Governor signed.
  2. Effective date 7/24/2005.
  3. Chapter 432, 2005 Laws.
  4. Delivered to Governor.
  5. President signed.
  6. Speaker signed.
  7. Passed final passage; yeas, 95; nays, 0; absent, 0; excused, 3.
  8. House concurred in Senate amendments.
  9. Third reading, passed; yeas, 42; nays, 0; absent, 5; excused, 2.
  10. Rules suspended. Placed on Third Reading.
  11. Committee amendment adopted with no other amendments.
  12. Placed on second reading by Rules Committee.
  13. FHC - Majority; do pass with amendment(s).
  14. Passed to Rules Committee for second reading.
  15. Made eligible to be placed on second reading.
  16. First reading, referred to Financial Institutions, Housing & Consumer Protection.
  17. Third reading, passed; yeas, 96; nays, 0; absent, 0; excused, 2.
  18. Rules suspended. Placed on Third Reading.
  19. Placed on second reading by Rules Committee.
  20. Made eligible to be placed on second reading.
  21. Passed to Rules Committee for second reading.
  22. FII - Majority; do pass.
  23. First reading, referred to Financial Institutions & Insurance.

HB 1034 in other sessions

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

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