California 2011-2012 Regular Session Status: In Committee

AB 705 — Insurance: risk retention.

Last action — From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

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

This bill died with 2011-2012 Regular 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This bill is no longer active — its legislative session has ended, so there is no live prognosis.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.

Summary

Existing law prohibits domestic insurers from acquiring foreign investments from or located in foreign jurisdictions designated as state sponsors of terrorism by the United States Secretary of State. This bill would prohibit a domestic insurer from acquiring any direct or indirect investment, as defined, in Iran. The bill would disallow and treat as a nonadmitted asset on the financial statements required to be filed with the Insurance Commissioner any direct or indirect investment of an admitted foreign insurer in Iran.

Bill Text

Action History

  1. From committee: Filed with the Chief Clerk pursuant to Joint Rule 56.

  2. Died pursuant to Art. IV, Sec. 10(c) of the Constitution.

  3. Re-referred to Com. on INS.

  4. From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended.

  5. In committee: Set, first hearing. Hearing canceled at the request of author.

  6. Referred to Com. on INS.

  7. From printer. May be heard in committee March 20.

  8. Read first time. To print.

Sponsors

  • Blumenfield · Primary
  • Feuer · Cosponsor
  • Gatto · Cosponsor

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 119 not signed on

Sponsors (1)

  • Blumenfield

Co-sponsors (2)

  • Feuer
  • Gatto

Not signed on (119)

119 members have not signed on to this bill.

Show all 119 →

"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

What does AB 705 do?
Existing law prohibits domestic insurers from acquiring foreign investments from or located in foreign jurisdictions designated as state sponsors of terrorism by the United States Secretary of State. This bill would prohibit a domestic insurer from acquiring any direct or indirect investment, as defined, in Iran. The bill would disallow and treat as a nonadmitted asset on the financial statements required to be filed with the Insurance Commissioner any direct or indirect investment of an admitted foreign insurer in Iran.
Who sponsors AB 705?
AB 705 is sponsored by Blumenfield, Feuer, and Gatto.
What is the current status of AB 705?
This bill died with 2011-2012 Regular 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 AB 705?
Track AB 705 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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