Banking and Insurance Sends Bills to Senate

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The Senate banking and insurance committee convened to report two House Bills to the Senate, Monday.  

The brief meeting center around discussion of House Bills 2476 and 2609. Following the committee’s discussion and consideration of amendments, both bills were reported to the full Senate with the recommendation of the passage.  

If passed, House Bill 2476 would amend a section of the state’s insurance code relating the evaluation of totaled automobiles. According to counsel, the language of the legislation was intended to clarify the the evaluations of insurance claims.  

Counsel also provided the committee with a technical amendment drafted to strike language to further clarify the intentions of the bill.  

Following discussion, the committee unanimously voted to adopt the amendment 

Members also reviewed House Bill 2609, relating to presumptions of abandonment and indication of ownership in property. Counsel addressed members to explain the purpose of the bill is to strike a section of code which was enacted in 1984 and is no longer needed. 

According to counsel’s explanation, the proposed legislation received no objections from the Division of Financial Institutions.