North Carolina 2019-2020 Session Status: In Committee 1 R cosponsors

SB 141 — NAIC Accreditation Amendments.-AB

Last action — Withdrawn From Com

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

20 added · 21 removed

Plain-language change summary

In the latest version of Senate Bill 141, some lines of text that previously identified the bill by its earlier designation have been removed, and the section about the Commissioner’s authority to enter agreements has been added. This change streamlines the bill's references and clarifies the Commissioner’s powers. These updates help ensure that the bill is clearer and more focused on its purpose, making it easier for lawmakers and the public to understand its provisions.

→
Previous
Latest
FILED SENATE GENERAL ASSEMBLY OF NORTH CAROLINA Feb 26, 2019 S.B.
GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2019 S 1 SENATE BILL 141* Short Title:
141 SESSION 2019 PRINCIPAL CLERK S D SENATE BILL DRS45057-MH-22* Short Title:
AN ACT TO REVISE VARIOUS INSURANCE LAWS IN ORDER TO MAINTAIN NAIC ACCREDITATION, AS RECOMMENDED BY THE DEPARTMENT OF INSURANCE.
Rules and Operations of the Senate February 27, 2019 AN ACT TO REVISE VARIOUS INSURANCE LAWS IN ORDER TO MAINTAIN NAIC ACCREDITATION, AS RECOMMENDED BY THE DEPARTMENT OF INSURANCE.
*DRS45057-MH-22* General Assembly Of North Carolina Session 2019 (2) It has substantial insurance operations in the United States, but not in this State.
*S141-v-1* General Assembly Of North Carolina Session 2019 (2) It has substantial insurance operations in the United States, but not in this State.
Page 2 DRS45057-MH-22* General Assembly Of North Carolina Session 2019 (d) PursuanttoG.S.
Page 2 Senate Bill 141*-First Edition General Assembly Of North Carolina Session 2019 (d) PursuanttoG.S.
DRS45057-MH-22* Page 3 General Assembly Of North Carolina Session 2019 (f) If the Commissioner acknowledges that another regulatoryofficial from a jurisdiction that is not accredited by the NAIC is the group-wide supervisor, the Commissioner is authorized to reasonablycooperate, through supervisorycolleges or otherwise, with group-wide supervision undertaken bythe group-wide supervisor, provided that both of the following conditions are met:
Senate Bill 141*-First Edition Page 3 General Assembly Of North Carolina Session 2019 (f) If the Commissioner acknowledges that another regulatoryofficial from a jurisdiction that is not accredited by the NAIC is the group-wide supervisor, the Commissioner is authorized to reasonablycooperate, through supervisorycolleges or otherwise, with group-wide supervision undertaken bythe group-wide supervisor, provided that both of the following conditions are met:
(g) TheCommissioner mayenterintoagreements with orobtaindocumentation from any insurer registered under G.S.
(g) TheCommissioner mayenterintoagreements with orobtain documentation from any insurer registered under G.S.
Page 4 DRS45057-MH-22* General Assembly Of North Carolina Session 2019 "(6a) "Internal audit function" means a person or persons that provide independent, objective, and reasonable assurance designed to add value and improve an organization's operations and accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes." SECTION 2.(c) G.S.
Page 4 Senate Bill 141*-First Edition General Assembly Of North Carolina Session 2019 "(6a) "Internal audit function" means a person or persons that provide independent, objective, and reasonable assurance designed to add value and improve an organization's operations and accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes." SECTION 2.(c) G.S.
CORPORATE GOVERNANCE ANNUAL DISCLOSURE DRS45057-MH-22* Page 5 General Assembly Of North Carolina Session 2019 SECTION 3.(a) Article 10 of Chapter 58 of the General Statues is amended by adding a new Part to read:
CORPORATE GOVERNANCE ANNUAL DISCLOSURE Senate Bill 141*-First Edition Page 5 General Assembly Of North Carolina Session 2019 SECTION 3.(a) Article 10 of Chapter 58 of the General Statues is amended by adding a new Part to read:
In Page 6 DRS45057-MH-22* General Assembly Of North Carolina Session 2019 these instances, a copy of the CGAD must also be provided, upon request, to the chief regulatory official of any state in which the insurance group has a domestic insurer.
In Page 6 Senate Bill 141*-First Edition General Assembly Of North Carolina Session 2019 these instances, a copy of the CGAD must also be provided, upon request, to the chief regulatory official of any state in which the insurance group has a domestic insurer.
DRS45057-MH-22* Page 7 General Assembly Of North Carolina Session 2019 (b) Notwithstandingsubsection(a)ofthis section,theCGADshall beprepared consistent with this Part.
Senate Bill 141*-First Edition Page 7 General Assembly Of North Carolina Session 2019 (b) Notwithstandingsubsection(a)ofthis section,theCGADshall beprepared consistent with this Part.
Page 8 DRS45057-MH-22* General Assembly Of North Carolina Session 2019 b.
Page 8 Senate Bill 141*-First Edition General Assembly Of North Carolina Session 2019 b.
DRS45057-MH-22* Page 9 General Assembly Of North Carolina Session 2019 d.
Senate Bill 141*-First Edition Page 9 General Assembly Of North Carolina Session 2019 d.
(d) The sharing of information and documents by the Commissioner pursuant to this Part shall not constitute a delegation of regulatory authority or rulemaking, and the Commissioner is Page 10 DRS45057-MH-22* General Assembly Of North Carolina Session 2019 solely responsible for the administration, execution, and enforcement of the provisions of this Part.
(d) The sharing of information and documents by the Commissioner pursuant to this Part shall not constitute a delegation of regulatory authority or rulemaking, and the Commissioner is Page 10 Senate Bill 141*-First Edition General Assembly Of North Carolina Session 2019 solely responsible for the administration, execution, and enforcement of the provisions of this Part.
DRS45057-MH-22* Page 11 General Assembly Of North Carolina Session 2019 (a) Civil Penalties.
Senate Bill 141*-First Edition Page 11 General Assembly Of North Carolina Session 2019 (a) Civil Penalties.
A failure to obtain or Page 12 DRS45057-MH-22* General Assembly Of North Carolina Session 2019 maintain at least two financial strength ratings from acceptable rating agencies will result in loss of eligibility for certification;
A failure to obtain or Page 12 Senate Bill 141*-First Edition General Assembly Of North Carolina Session 2019 maintain at least two financial strength ratings from acceptable rating agencies will result in loss of eligibility for certification;
DRS45057-MH-22* Page 13
Senate Bill 141*-First Edition Page 13
⬇ Download PDF
View plain text versions (2)

Action History

  1. Withdrawn From Com

  2. Re-ref to Commerce and Insurance. If fav, re-ref to Rules and Operations of the Senate

  3. Passed 1st Reading

  4. Ref To Com On Rules and Operations of the Senate

  5. Filed

Sponsors

  • Edwards · Primary
  • Gunn · Primary
  • Steinburg · Cosponsor
  • W. Ted Alexander · Cosponsor

Sponsorship breakdown

Export CSV (upgrade) →

2 sponsors · 2 co-sponsors · 175 not signed on

Sponsors (2)

  • Edwards
  • Gunn

Co-sponsors (2)

Not signed on (175)

175 members have not signed on to this bill.

Show all 175 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 141?
SB 141 is sponsored by Edwards, Gunn, Steinburg, and W. Ted Alexander (Republican).
What is the current status of SB 141?
This bill died with 2019-2020 Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 141?
Track SB 141 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 141

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 141

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →