HB24-1321
Insurance Holding Company Model Regulation
| Type | Bill |
|---|---|
| Session | 2024 Regular Session |
| Subjects |
Concerning aligning the Colorado statutes with the National Association of Insurance Commissioners' financial model laws.
Bill Summary:
The act updates Colorado state laws concerning insurance company holding systems to align with the National Association of Insurance Commissioners' model act. The changes include updating:
- The registration requirements for the ultimate controlling person of each insurer by adding new filing requirements to be included with the division of insurance's (division) existing registration requirements;
- The standards for insurance holding company transactions subject to registration with the division;
- Language concerning the confidential treatment of documents to include proprietary and trade secret documents and materials; and
- The regulatory tools that the division may use for the regulation of insurance holding companies.
The act authorizes the commissioner of insurance to adopt rules applicable to certain reinsurance arrangements. The act also makes technical amendments.
APPROVED by Governor May 24, 2024
EFFECTIVE January 1, 2025
(Note: This summary applies to this bill as enacted.)
Related Documents & Information
| Date | Version | Documents |
|---|---|---|
| 03/07/2024 | PA1 |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 24-1321 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Adopt amendment L.001 | The motion passed without objection. | Vote summary |
| Adopt amendment L.002 | The motion passed without objection. | Vote summary |
| Refer House Bill 24-1321, as amended, to the Committee of the Whole. | The motion passed on a vote of 10-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/29/2024 | Third Reading | BILL |
34
AYE
0
NO
1
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 03/11/2024 | Third Reading | BILL |
60
AYE
1
NO
4
OTHER
|
Vote record |
| Date | Location | Action |
|---|---|---|
| 05/24/2024 | Governor | Governor Signed |
| 05/15/2024 | Governor | Sent to the Governor |
| 05/15/2024 | Senate | Signed by the President of the Senate |
| 05/15/2024 | House | Signed by the Speaker of the House |
| 04/29/2024 | Senate | Senate Third Reading Passed - No Amendments |
| 04/26/2024 | Senate | Senate Second Reading Special Order - Passed - No Amendments |
| 04/23/2024 | Senate | Senate Committee on Business, Labor, & Technology Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 03/18/2024 | Senate | Introduced In Senate - Assigned to Business, Labor, & Technology |
| 03/11/2024 | House | House Third Reading Passed - No Amendments |
| 03/08/2024 | House | House Second Reading Special Order - Passed with Amendments - Committee |
| 03/06/2024 | House | House Committee on Business Affairs & Labor Refer Amended to House Committee of the Whole |
| 02/20/2024 | House | Introduced In House - Assigned to Business Affairs & Labor |
Prime Sponsor
Sponsor
(None)
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 01/01/2025 | 252 | Insurance Holding Company Model Regulation |