Enrolled Bill Summary

            House Bill 3304 amends the Insurance Code to make certain requirements governing the maintenance of out-of-state books, records, accounts, and offices by domestic insurance companies applicable to a health maintenance organization (HMO) that is affiliated with other HMOs or health care providers. The act also provides that a separate notice of intent to locate and maintain books, records, and accounts outside the state shall not be required if the domestic insurer has an agreement to maintain such documents outside the state with an affiliate and the agreement has been approved in accordance with the Insurance Holding Company System Regulatory Act and contains substantially all the information that would be required by the notice of intent. The act requires the commissioner of insurance to adopt rules allowing the maintenance of a domestic insurer's books and records with a nonaffiliated entity and allow a domestic HMO to comply with the law.