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Minutes for HB2044 - Committee on Financial Institutions and Insurance
Short Title
Requiring that third party administrators maintain separate fiduciary accounts for individual payors and not contain funds collected or held on behalf of multiple payors and disclose to the commissioner of insurance any bankruptcy petition filed by or on behalf of such administrator.
Minutes Content for Tue, Mar 11, 2025
Chairperson Dietrich brought HB 2044 forward to work. Revisor Eileen Ma gave a brief overview and provided an amendment. The amendment adds language specifying the time frame for disclosure. (Attachment 5)
Senator Rose moved that amendment be passed. Senator Warren seconded. Motion passed.
A second amendment was offered that changed the effective date of the bill. (Attachment 6)
Senator Fagg moved that the amendment be passed. Senator Rose seconded. Motion passed.
Senator Fagg moved to pass out HB 2044 as amended favorably. Senator Gossage seconded. Motion passed.
