I move that Engrossed Senate Bill 508 be amended to read as follows:
Page 27, after line 10 , begin a new paragraph and insert:
"SECTION 15. IC 27-7-2-3 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 3. (a) After July 1,
1935, every insurance company authorized to effect worker's
compensation insurance in this state shall be a member of the
worker's compensation rating bureau of Indiana. The bureau shall be
composed of all insurance companies lawfully engaged on July 1,
1935, wholly or in part in making worker's compensation insurance
in Indiana or who shall after July 1, 1935, be issued a certificate of
authority to make worker's compensation insurance in this state.
(b) Notwithstanding any provision in this chapter to the
contrary:
(1) the meetings of the bureau are open to the public under
IC 5-14-1.5; and
(2) the records of the bureau are open to the public for
inspection and copying under IC 5-14-3.
SECTION 16. IC 27-7-2-5 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2005]: Sec. 5. (a) Subject to the
terms of subsection (b) of this section, the management of said
bureau shall be in the hands of duly elected officers or committees
provided for in the bylaws of said bureau; each member of the bureau
or member group with affiliate or subsidiary companies shall be
entitled to only one (1) vote on any subject coming before the bureau
for determination.
(b) All actions by the bureau are void unless approved in
writing by the commissioner. Notwithstanding any provision in
this chapter to the contrary, the bureau may not enter into a
contract unless the contract has been approved in writing by the
commissioner".
Renumber all SECTIONS consecutively.
(Reference is to ESB 508 as printed March 25, 2005.)