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Senate Bill 0194


Senate Bill 0194

ARCHIVE (2012)

Latest Information

 

DIGEST OF INTRODUCED BILL


Insurance proceeds withholding. Amends the current law concerning insurance proceeds set aside for structures damaged by fire or explosion and does the following: (1) Requires an insurer to notify the state fire marshal of the existence of a policy covering a structure damaged by fire or explosion and to withhold payment of a claim for the damage for a certain period. (2) Requires the state fire marshal to maintain a list of municipalities requesting notice of the existence of such a policy and to notify a listed municipality upon notice from the insurer. Makes conforming amendments to the current law by repealing a definition and other provisions made obsolete by the bill.
    Current Status:
     In Committee - first House
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