ARIZONA HOUSE OF REPRESENTATIVES FIRST REGULAR SESSION - 1999

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__X__ For Committee on GOVERNMENT REFORM

_____ For Committee on ______________________________________

_____ For Caucus and COW

_____ As Passed the House

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Abstract for HB. 2633 (captive insurance) Sponsors: Carpenter: Binder, Gardner W., Gerard, Gordon

HB 2633 amends ARS Title 20 by adding Chapter 20. Chapter 20 authorizes captive insurance companies to transact business in this state.

SUMMARY OF PROPOSED STRIKE-EVERYTHING AMENDMENT TO HB. 2633

The proposed amendment establishes a nine member joint legislative study committee on captive insurance. The committee is required to review and analyze the following:

· statutes, rules and regulations relating to captive insurance companies;

· the feasibility and economic impact captive insurance companies will have on Arizona;

· the role of state regulation in the captive insurance market;

· factors related to forming a captive insurance company.

The joint legislative study committee is required to submit a report of its findings and recommendations by November 15, 1999.

Prepared by: Elizabeth Hatch, Jonathan Dinesman

hb2633.gr 2/18/99 bh

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