2001 Senate Bill 666 / Public Act 226

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Introduced in the Senate

Sept. 25, 2001

Introduced by Sen. Willis Bullard (R-15)

To require insurance companies to use a particular formula to determine the adequacy of reserves, which conforms to a national industry standard.

Referred to the Committee on Financial Services

Oct. 23, 2001

Substitute offered

To recommend modifications to language contained in the bill resulting from committee testimony and deliberation.

The substitute passed by voice vote

Oct. 24, 2001

Passed in the Senate 35 to 0 (details)

To require insurance companies to use a particular formula to determine the adequacy of reserves, which conforms to a national industry standard.

Received in the House

Oct. 24, 2001

Dec. 12, 2001

Passed in the House 103 to 0 (details)

To concur with the Senate-passed version of the bill.

Received in the Senate

Dec. 12, 2001

Signed by Gov. John Engler

Dec. 31, 2001