logout

Store Research

ASSEMBLY BILL 2984 (ASSEMBLY COMMITTEE ON INSURANCE – 2002)

CHAPTER 203, STATUTES OF 2002, AB 2984

Some bill research does not include the Governor's file because at the time we researched the bill, the sitting Governor had not released his chaptered bill file. If the Governor's file is not included with this particular research, please contact our office (1-530-666-1917 or quote@legintent.com) and we will be happy to provide this file at no charge if it is available. Please Note: Governor files did not exist prior to 1943.

In 2002, Assembly Bill 2984 amended and added sections to the Insurance Code relating to depository institutions, production agencies, surplus lien brokers, and reinsurance intermediaries.  (See Exhibit #1d)  This bill was introduced on February 28, 200 by the Assembly Committee on Insurance for the Department of Insurance.  (See Exhibits #1a and #6, page 1)

Assembly Bill 2984 was assigned to both the Assembly and Senate Committees on Insurance where policy issues raised by the bill were considered.  (See Exhibits #3 and #5)  The fiscal ramifications of the bill were considered by the Assembly Committee on Appropriations and the Senate Committee on Appropriations.  (See Exhibits #4 and #2)  Two amendments were made to Assembly Bill 2984.  (See Exhibits #1b, #1c, and #2)  Subsequent to legislative approval, Governor Gray Davis signed the bill on July 29, 2002 and it was recorded by the Secretary of State on that day as Chapter 203 of the Statutes of 2002.  (See Exhibit #1d)

The Concurrence in Senate Amendments analysis of Assembly Bill 2984 as last amended that was prepared by the Assembly Committee on Insurance summarized the provisions in this bill as follows:

. . . Implements California Department of Insurance (DOI) alternative to the National Association of Insurance Commissioners (NAIC) Model Act for achieving National Association of Registered Agents and Brokers (NARAB) reciprocity under the federal Gramm-Leach-Bliley Act (GLBA), and establishes provisions regulating retail sales practices. Solicitations, advertising, and offers of any insurance product or annuity to a consumer by a depository institution, or any person engaged in those activities at the office of a depository institution, or on behalf of a depository institution.
(See Exhibit #7, page 1)