WA People
BILL · 2023–24 SESSION

SB 6027: Insurance holding companies

Concerning the insurance holding company act.

Summary

  • Adopts the National Association of Insurance Commissioners' revisions to insurance holding company model acts to require solvency calculations and tests at registration.
  • Establishes certain rules and requirements regarding the confidentiality of solvency calculations and tests.
  • Permits the Insurance Commissioner to receive and share confidential and privileged documents, materials, and information with third-party consultants if certain conditions are met.

From the House Bill Report (SB 6027), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 42, Laws of 2024
  1. IntroducedJan 8, 2024
  2. Out of committeeJan 17, 2024
  3. Passed SenateFeb 7, 2024
  4. Passed HouseFeb 27, 2024
  5. GovernorMar 13, 2024
  6. LawMar 13, 2024
Prime sponsor
Derek Stanford (D-1)
Introduced
January 8, 2024 in the Senate
Last action
March 13, 2024
Session law
Chapter 42, Laws of 2024
Requested by
Other

AN ACT Relating to the insurer holding company act;

Sponsors

Prime sponsor: Derek Stanford (D-1)

2 co-sponsors (2 Democrats, 0 Republicans)

Patty Kuderer D-48T'wina Nobles D-28

Votes

Senate · 3rd Reading & Final Passage

Passed February 7, 2024
Version voted on: SB 6027
48 Yea 0 Nay 1 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat28010
Republican20000
How each member voted

Yea (48)

Absent (1)

Permalink to this vote

House · 3rd Reading & Final Passage

Passed February 27, 2024
Version voted on: SB 6027
95 Yea 0 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat58000
Republican37003
How each member voted

Yea (95)

Excused (3)

Permalink to this vote

History

  1. Effective date 6/6/2024.
  2. Chapter 42, 2024 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Rules suspended. Placed on Third Reading.
  8. Third reading, passed; yeas, 95; nays, 0; absent, 0; excused, 3.
  9. Rules Committee relieved of further consideration. Placed on second reading.
  10. CPB - Executive action taken by committee.
  11. CPB - Majority; do pass.
  12. Referred to Rules 2 Review.
  13. First reading, referred to Consumer Protection & Business.
  14. Third reading, passed; yeas, 48; nays, 0; absent, 1; excused, 0.
  15. Rules suspended. Placed on Third Reading.
  16. Placed on second reading by Rules Committee.
  17. Passed to Rules Committee for second reading.
  18. BFGT - Majority; do pass.
  19. First reading, referred to Business, Financial Services, Gaming & Trade.
  20. Prefiled for introduction.

SB 6027 in other sessions

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

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