BILL ANALYSIS Ó SENATE INSURANCE COMMITTEE Senator Ronald Calderon, Chair AB 1426 (Committee on Insurance)Hearing Date: June 22, 2011 As Introduced: March 22, 2011 Fiscal: No Urgency: No SUMMARY Would maintain the Insurance Code by deleting obsolete provisions. DIGEST Existing law Requires the Insurance Commissioner to: 1. Report to the Legislature by June 30, 2004, on the effectiveness, and needed legislative reforms, if any, of the credit insurance agents law establishing 1) the licensing requirements to become licensed as a credit insurance agent or endorsee, 2) the authorized lines of insurance, 3)specifying conditions for the sale of credit insurance, and 4) detailing prohibited acts. 2. Adopt emergency regulations for implementation of California's Low Cost Auto Insurance Program This bill Repeals the obsolete requirement that the Insurance Commissioner report by June 30, 2004, on the effectiveness of laws regulating credit insurance agents; and Repeals a requirement that the Insurance Commissioner adopt emergency regulations in connection with the implementation of the low-cost automobile insurance program. COMMENTS 1. Purpose of the bill Each year the Assembly Insurance Committee introduces a set of AB 1426 (Committee on Insurance), Page 2 committee bills, authored by a majority of the committee Members, to address non-controversial issues. This bill would remove obsolete language from the Insurance Code. 2. Background and Discussion: This Assembly Insurance Committee bill is a non-controversial, "Code Maintenance" measure. 3. Summary of Arguments in Support: a. None received 4. Summary of Arguments in Opposition: a. None Received 5. Amendments: a. None proposed 6. Prior and Related Legislation: a. None LIST OF REGISTERED SUPPORT/OPPOSITION Support None Opposition None Consultant: Ken Cooley (916) 651-4110