SB 423, as introduced, Huff. Insurance: annual statements.
Existing law requires every insurer, each year on or before the first day of March, to make and file with the Insurance Commissioner in the number, form, and by the methods prescribed by the commissioner, statements exhibiting its condition and affairs as of the previous December 31.
This bill would make technical, nonsubstantive changes to that 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 900 of the Insurance Code is amended
2to read:
(a) begin deleteOn or before the first day of March of each end deletebegin insertEach end insertyearbegin insert,
4on or before the first day of March,end insert every insurer doing business
5in this state shall make and file with the commissioner, in the
6number, form, and by the methods prescribed by the commissioner,
7statements exhibiting its condition and affairs as of the previous
8December 31. If the first day of March falls on a day other than a
9business day, the filing is due to the commissioner by the first
10
business day preceding the first day of March.
P2 1(b) Each year, on or before the following dates, every insurer
2doing business in this state shall make and file with the
3commissioner, in the number, form, and methods prescribed by
4the commissioner, statements exhibiting its condition and affairs
5for the period beginning on January 1 of the current calendar year
6through the end of each quarter of the current year as described
7below. These quarterly filings shall cover the period of time
8beginning January 1 of the current year through and including the
9last day of the quarter for which the report is being made. The first
10quarter filing shall be filed with the commissioner on or before
11Maybegin delete 15thend deletebegin insert 15end insert of every year. The second quarter filing shall be filed
12with the
commissioner on or before Augustbegin delete 15thend deletebegin insert 15end insert of every year.
13The third quarter filing shall be filed with the commissioner on or
14before Novemberbegin delete 15thend deletebegin insert 15end insert of every year. If any of these dates fall
15on a day other than a business day, then the filing is due to the
16commissioner by the first business day preceding that date.
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