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Senate Bill 1283 |
Senate Author: Armbrister |
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Effective: 9-1-05 |
House Sponsor: Seaman |
Senate Bill 1283 amends the Insurance Code to delete a provision that exempts from state regulation an insurance holding company system in which each affiliate is privately owned by five or fewer individuals. The bill provides that a system that becomes subject to regulation as a result of the change is not required to comply with the applicable insurance laws until January 1, 2006.