Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Committee hears H.648 housekeeping bill to modernize insurance, banking and credit-union statutes
Summary
The Commerce & Economic Development committee reviewed H.648, a Department of Financial Regulation housekeeping bill that updates insurer naming rules, filing requirements, anti-discrimination language and regulatory fund language; banking and credit-union trade groups told the committee they reached consensus with DFR and the bill is headed to Ways and Means.
MONTPELIER, Vt. — Lawmakers on the Commerce & Economic Development committee heard testimony Jan. 15 on H.648, the Department of Financial Regulation's annual housekeeping bill, which would make technical updates to statutes governing insurers, banks and credit unions.
Jamie Fien, speaking for the American Property Casualty Insurance Association, highlighted four insurer-focused revisions in the bill: Section 44 would allow mutual insurers that reorganize into a mutual insurance holding company to continue using the word “mutual” in their name; Section 45 clarifies that insurers must file quarterly statements with the Department of…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
