SB 418-1_ Filed 01/31/2000, 09:41
SENATE MOTION
MR. PRESIDENT:
I move
that Senate Bill 418 be amended to read as follows:
SOURCE: Page 1, line 14; (00)MO041801.1. -->
Page 1, delete lines 14 through 17, begin a new paragraph and
insert:
"
(b) The commissioner may increase the ten percent (10%)
limitation in subsection (a)(1) to an amount not to exceed twenty
percent (20%) of the capital and surplus of the insurer as reported
in its latest annual statement filed with the commissioner if:
(1) the assets of the insurer include good will, trade names,
and other like intangible assets that are attributable to the
acquisition after December 31, 1998, of an insurance company
or health maintenance organization authorized to do business
under the laws of any state; and
(2) as of the date of the initial request for an increase in the
ten percent (10%) limitation in subsection (a)(1) the total
adjusted capital of the insurer is at least four hundred percent
(400%) of the authorized control level risk based capital of
the insurer as reported in the latest annual report filed with
the commissioner.
(c) The commissioner may retain experts to assist with a request
made under subsection (b). The insurer shall pay all costs for the
experts.".
Page 2, delete lines 1 through 2.
(Reference is to SB 418 as printed January 25, 2000.)
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MO041801/DI 47 2000