Enrolled Bill Summary

House Bill 3161	House Author:  Hancock
Effective:  6-17-11	Senate Sponsor:  Van de Putte

House Bill 3161 amends the Insurance Code to authorize a wholly owned domestic insurer authorized to transact the business of life, health, or accident insurance or an affiliated company organized or authorized to conduct business under state law to organize a limited purpose subsidiary life insurance company that is in turn authorized to reinsure risks of the organizing company and an affiliated company. The bill sets out requirements for such a subsidiary company's organizational documents and other related provisions.