Mutual Insurance Holding Companies - Conversion to Mutual Insurers

Legislative status

1. Introduced
2. In Committee
3. Reported by Committee
4. Floor Vote Scheduled
5. Passed One Chamber
6. Passed Both Chambers
7. Sent to Executive
8. Signed into Law

Summary

The bill lets a mutual insurance holding company change its structure to become a mutual insurer, provided it follows a detailed conversion plan. The plan must be approved by the board, receive at least 75% member support, and be accepted by the state insurance commissioner. It is intended to protect policyholders while giving companies more flexibility.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Hearings

• Finance — Bill Hearing
  Finance · Mar 26, 2026

History

1. May 26, 2026Approved by the Governor - Chapter 687
2. Apr 13, 2026Third Reading Passed
3. Apr 13, 2026Returned Passed
4. Apr 11, 2026Favorable Report by Judiciary
5. Apr 11, 2026Favorable Adopted Second Reading Passed
6. Apr 9, 2026Rereferred to Judiciary
7. Apr 8, 2026Third Reading Passed
8. Apr 8, 2026Referred Rules and Executive Nominations
9. Apr 7, 2026Second Reading Passed
10. Apr 7, 2026Favorable Adopted
11. Apr 6, 2026Favorable Report by Finance
12. Mar 23, 2026Hearing 3/26 at 1:00 p.m.

The 12 most recent of 14 recorded actions.

Sponsors

• McCray · sponsor

Bill text

Opens the legislature’s own copy.

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