BILL NUMBER: AB 1748	INTRODUCED
	BILL TEXT


INTRODUCED BY   Assembly Member Hagman

                        FEBRUARY 14, 2014

   An act to amend Section 739.12 of the Insurance Code, relating to
insurance.


	LEGISLATIVE COUNSEL'S DIGEST


   AB 1748, as introduced, Hagman. Insurance: risk-based capital.
   Existing law requires every domestic insurer to prepare and submit
to the Insurance Commissioner a Risk-Based Capital (RBC) Report of
the insurer's risk-based capital levels as of the end of the calendar
year, as specified. Existing law directs the Insurance Commissioner
to take regulatory action with respect to an RBC Report under
specified conditions. All notices by the Insurance Commissioner to an
insurer that may result in regulatory action are effective upon
dispatch if transmitted by registered or certified mail, or in the
case of any other transmission, are effective upon the insurer's
receipt of the notice.
   This bill would make a technical, nonsubstantive change to the
latter provision.
   Vote: majority. Appropriation: no. Fiscal committee: no.
State-mandated local program: no.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 739.12 of the Insurance Code is amended to
read:
   739.12.  (a) All notices by the commissioner to an insurer that
may result in regulatory action hereunder shall be effective upon
dispatch if transmitted by registered or certified mail, or in the
case of any other transmission  ,  shall be effective upon
the insurer's receipt of  such   the 
notice.
   (b) Copies of all notices from the commissioner to the State
Compensation Insurance Fund under this article shall be sent to the
Governor.