Assembly Bill 1850 (Beverly – 1970)
Chapter 573, Statutes of 1970, AB 1850
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Chapter 10.3 of Part 1, Division 1 of the Insurance Code, consisting at that time of section 673, was enacted in 1970 by passage of Assembly Bill 1850. (See Exhibit #1c) Assembly member Robert G. Beverly introduced the legislation on March 31, 1970 at the request of Richards D. Barger, the Insurance Commissioner during the Reagan administration. (See Exhibits #1a and #7, document A-6) Assembly Bill 1850 was drafted by the Department of Insurance. (See Exhibit #7, document A-5)
While before the Legislature, Assembly Bill 1850 was assigned to the Assembly Committee on Finance and Insurance and the Senate Committee on Insurance and Financial Institutions for consideration of the policy issues raised by the bill. (See Exhibits #3 and #5) Subsequent to amendment by the Assembly on June 12, 1970, Assembly Bill 1850 was passed by the Legislature without a dissenting vote, signed by Governor Ronald Reagan, and recorded on July 31, 1970 as Chapter 573 of the Statutes of 1970. (See Exhibits #1b, #1c; #2; and #7, document A‑8)
In his letter to Governor Reagan requesting his approval of the bill, Assembly member Beverly described Assembly Bill 1850 as follows:
This measure was introduced at the request of the State Department of Insurance and simply provides for a procedure to be followed when a premium financier exercises its right to order a policy canceled for non-payment of premium.
(See Exhibit #8, document PE-6)