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MO HB1940
Bill
Status
Introduced
3/20/2012
Primary Sponsor
Jason Barnes
Click for details
AI Summary
- Board of directors must establish a successor private mutual insurance company before January 1, 2014
- By January 1, 2013, the board shall report to the governor, senate president pro tempore, and house speaker on privatization steps and calculate any state equity value in the company
- Successor mutual insurance company becomes private as of January 1, 2014, with all assets and liabilities transferred by operation of law, and shall not use state-related terms in its name
- Beginning January 1, 2014, the successor company shall be subject to all private insurance carrier statutes and regulations under the Department of Insurance, Financial Institutions and Professional Registration
- Director of insurance is authorized to supervise the transition and promulgate implementing rules under chapter 536
Legislative Description
Requires the Missouri Employers Mutual Insurance Company to transition into a private mutual insurance company before January 1, 2014
Last Action
Public Hearing Completed (H)
4/2/2012
Full Bill Text
No bill text available