SB 503
Eliminates the Account for the Regulation and Supervision of Captive Insurers in the Fund for Insurance Administration and Enforcement. (BDR 57-1236)
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Sign in to take action- Introduced
- Passed Senate
- Passed Assembly
- To Governor
- Became Law
Bill overview
This bill eliminates a specific account within the Fund for Insurance Administration and Enforcement that was previously used to regulate captive insurers. Under the new law, fees, assessments, and taxes collected from captive insurers will instead be deposited directly into the general fund of the insurance administration fund. Any remaining money in the eliminated account as of July 1, 2025, will also be transferred to the general fund for broader use.
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Primary sponsor
Senate Committee on Finance
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