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HB19-1043

Life Care Institutions Post Surety Bond As Reserve

Concerning the ability of life care institutions to post a surety bond as a form of required reserve.
Session:
2019 Regular Session
Subject:
Financial Services & Commerce
Bill Summary

Life care institutions - reserve requirement - surety bond option. Current law requires life care institutions to maintain reserves through 1 or more of several options that all require liquidity. The act allows a surety bond as a type of allowable reserve.
(Note: This summary applies to this bill as enacted.)

Status

Introduced
Passed
Became Law

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Bill Text

  • All Versions (7 )
    Date Bill Type Documents
    03/28/2019 Signed Act PDF
    03/19/2019 Final Act PDF
    03/15/2019 Rerevised PDF
    03/14/2019 Revised PDF
    01/31/2019 Reengrossed PDF
    01/29/2019 Engrossed PDF
    01/04/2019 Introduced PDF

Sponsors

Sponsor Type Legislators
Prime Sponsor

Rep. R. Galindo
Sen. J. Danielson

Sponsor

Co-sponsor

Rep. T. Carver, Rep. L. Cutter, Rep. M. Duran, Rep. S. Gonzales-Gutierrez, Rep. E. Hooton, Rep. D. Michaelson Jenet, Rep. B. Titone, Rep. K. Van Winkle, Rep. C. deGruy Kennedy
Sen. L. Crowder, Sen. K. Priola, Sen. J. Tate

The effective date for bills enacted without a safety clause is August 6, 2025, if the General Assembly adjourns sine die on May 7, 2025 (unless otherwise specified). Details

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