Public Act 217 of 2004

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• Introduced by Rep. David Robertson (R) on May 20, 2004, to establish that a party to a commodity contract, forward, contract, swap agreement, or similar financial "derivatives" agreement with a financially troubled insurance company cannot be stayed from closing or liquidating the contract because of rehabilitation proceedings involving the insurance company.
  • Referred to the House Insurance and Financial Services Committee on May 20, 2004.
  • Reported in the House on June 2, 2004, without amendment and with the recommendation that the bill pass.
• Passed 102 to 0 in the House on June 9, 2004.
  Who Voted "Yes" and Who Voted "No"
• Received in the Senate on June 15, 2004.
  • Referred to the Senate Banking and Financial Institutions Committee on June 15, 2004.
    • Reported in the Senate on June 29, 2004, with the recommendation that the bill pass.
• Passed 36 to 0 in the Senate on June 30, 2004, to establish that a party to a commodity contract, forward, contract, swap agreement, or similar financial "derivatives" agreement with a financially troubled insurance company cannot be stayed from closing or liquidating the contract because of rehabilitation proceedings involving the insurance company.
  Who Voted "Yes" and Who Voted "No"
• Signed by Gov. Jennifer Granholm on July 14, 2004.