SB 583
Insurer financial statements.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Insurance
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
Senate Bill 583 increases the late filing fees insurers must pay to the California Insurance Commissioner for required financial statements. Currently, a late filing fee of $705 is charged for the initial failure to file, and an additional $849 is assessed for each month the statements remain unfiled. This bill raises these fees to $800 and $900, respectively. The bill aims to ensure insurers comply with filing requirements and generate revenue for the state.
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