HB 1917 State Corporation Commission; risk retention groups; jurisdiction.
Clifton A. Woodrum | all patrons    ...    notes
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Summary:
State Corporation Commission; risk retention groups; jurisdiction. Declares the Virginia State Corporation Commission (SCC) a court of competent jurisdiction under the Federal Risk Retention Act. The Virginia Supreme Court recently held in National Homes Ins. Co. v. State Corporation Commission, 248 Va. 161 (1994) that the SCC is not such a court for the purposes of this Act. However, in a related case before the Federal District Court for the Eastern District of Virginia, National Home Ins. Co. v. State Corporation Commission, 838 F. Supp. 1104 (E.D. Va. 1993), the federal district court held that the SCC could be a court of competent jurisdiction under the Act. According to the SCC, this bill will clarify its authority to investigate, enjoin and otherwise exercise jurisdiction over risk retention groups that are in a hazardous financial condition or financially impaired.

Full text:
01/20/95  House: Presented & ordered printed LD3399845  pdf
03/03/95  House: Bill text as passed House and Senate (HB1917ER)  pdf
05/09/95  Governor: Acts of Assembly Chapter text (CHAP0843)  pdf

Amendments:
Governor's recommendation

Status:
01/20/95  House: Presented & ordered printed LD3399845
01/20/95  House: Referred to Committee on Corporations, Insurance and Banking
01/24/95  House: Reported from Corp., Ins. & Banking (22-Y 0-N)
01/25/95  House: Read first time
01/26/95  House: Read second time and engrossed
01/27/95  House: Read third time and passed House (Block Vote) (99-Y 0-N)
01/27/95  House: VOTE: BLOCK VOTE PASSAGE (99-Y 0-N)
01/27/95  House: Communicated to Senate
01/30/95  Senate: Read first time
01/30/95  Senate: Referred to Committee on Commerce and Labor
02/20/95  Senate: Reported from Commerce and Labor (12-Y 3-N)
02/21/95  Senate: Constitutional reading dispensed (39-Y 0-N)
02/21/95  Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
02/22/95  Senate: Read third time
02/22/95  Senate: Passed Senate (31-Y 6-N)
02/22/95  Senate: VOTE: PASSAGE (31-Y 6-N)
03/03/95  House: Bill text as passed House and Senate (HB1917ER)
03/10/95  House: Enrolled
03/10/95  House: Signed by Speaker
03/13/95  Senate: Signed by President
03/27/95  House: Governor's recommendation received by House
04/05/95  House: House rejected Gov's recommendation (34-Y 63-N)
04/05/95  House: VOTE: REJECTED (34-Y 63-N)
04/05/95  House: Communicated to Governor
05/05/95  Governor: Approved by Governor-Chapter 843 (effective 7/1/95)
05/09/95  Governor: Acts of Assembly Chapter text (CHAP0843)