Introduced in the Senate on January 24, 2008, to establish and impose state regulations on “captive insurance companies,” which are defined as a subsidiary created only to insure some or all of the risks of its parent company, which may be a single business or insurer, a trade association, or a group of companies in a particular industry. The bill would also impose a separate fee (tax) regime and rates on these entities
The vote was 36 in favor, 1 opposed and 1 not voting
(Senate Roll Call 37 at Senate Journal 13)
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