AN ACT TO PROVIDE FOR THE OWNERSHIP OF INSURANCE COMPANIES BY CREDIT UNIONS. Summarized in Daily Bulletin 3/29/11 and 5/18/11. Enacted June 23, 2011. Effective October 1, 2011.
CREDIT UNION OWNERSHIP OF INS. CO (NEW).
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| View NCGA Bill Details | 2011-2012 Session |
TO PROVIDE FOR THE FORMATION AND OWNERSHIP OF STOCK LIFE INSURANCE COMPANIES BY CREDIT UNIONS.Intro. by Glazier.
Status: Ch. SL 2011-221 (House Action) (Jun 23 2011)
Bill History:
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Tue, 29 Mar 2011 House: Filed
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Wed, 30 Mar 2011 House: Passed 1st Reading
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Wed, 30 Mar 2011 House: Ref to the Com on Insurance, if favorable, Banking
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Wed, 18 May 2011 House: Reptd Fav Com Substitute
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Wed, 18 May 2011 House: Re-ref Com On Banking
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Wed, 18 May 2011 House: Withdrawn From Com
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Wed, 18 May 2011 House: Cal Pursuant Rule 36(b)
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Tue, 24 May 2011 House: Placed On Cal For 5/25/2011
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Wed, 25 May 2011 House: Passed 2nd & 3rd Reading
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Thu, 26 May 2011 Senate: Rec From House
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Thu, 26 May 2011 Senate: Passed 1st Reading
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Thu, 26 May 2011 Senate: Ref To Com On Insurance
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Mon, 13 Jun 2011 Senate: Reptd Fav
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Tue, 14 Jun 2011 Senate: Passed 2nd & 3rd Reading
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Wed, 15 Jun 2011 Ratified
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Thu, 16 Jun 2011 Pres. To Gov. 6/16/2011
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Thu, 23 Jun 2011 Signed By Gov. 6/23/2011
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Thu, 23 Jun 2011 Ch. SL 2011-221
H 501/S.L. 2011-221
Bill Summaries:
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Summary date: Jun 30 2011 - View Summary
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Bill H 501 (2011-2012)Summary date: May 18 2011 - View Summary
House committee substitute makes the following changes to 1st edition. Amends the title to AN ACT TO PROVIDE FOR THE OWNERSHIP OF INSURANCE COMPANIES BY CREDIT UNIONS. Makes a technical change.
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Bill H 501 (2011-2012)Summary date: Mar 29 2011 - View Summary
Amends GS 54-109.21(22), which is one of the listed powers of credit unions, to add that insurance for a credit union’s directors, officers, agents, employees, and members may be provided through any insurance company or through any subsidiary insurance company owned by the credit union. Makes the same change by enacting new GS 54-109.75(c). Makes a conforming change to GS 54-109.82, which concerns the investment of funds.
Adds credit union to the following statutes: GS 58-7-162(1), which lists allowable or admitted assets owned by an insurer; GS 58-7-172, which concerns cash and deposits of an insurer; and GS 58-7-173(14), which lists permitted insurer investments.
Effective October 1, 2011.
View: All Summaries for Bill