Introduced
by
To incorporate in state law the 2001 Commissioners Standard Ordinary (CSO) Mortality Table for use in determining minimum reserve liabilities of life insurance companies, as well as premiums and nonforfeiture benefits. The provisions are based on model legislation developed by the National Association of Insurance Commissioners.
Referred to the Committee on Insurance and Financial Services
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one containing technical changes that do not affect its substance as previously described.
The substitute passed by voice vote
Amendment offered
by
To require that any changes to the NAIC rules would only take effect in Michigan if the Insurance Commission first goes through the rule adoption process required under the administrative procedures act.
The amendment passed by voice vote
Amendment offered
by
To clarify certain technical references.
The amendment passed by voice vote
Passed in the House 103 to 1 (details)
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
To establish a new date on which the bill will go into effect if passed.
The amendment passed by voice vote
Passed in the Senate 36 to 0 (details)
To incorporate in state law the 2001 Commissioners Standard Ordinary (CSO) Mortality Table for use in determining minimum reserve liabilities of life insurance companies, as well as premiums and nonforfeiture benefits. The provisions are based on model legislation developed by the National Association of Insurance Commissioners.
To concur with the Senate-passed version of the bill.
Passed in the House 106 to 0 (details)
