Introduced
by
To require a new, lower minimum capital standard for a company that operates solely as a bail bond surety company. The current minimum is $7.5 million. The bill would lower this to $4.5 million, if the company also has $3 million in bond guarantees and securities in another state.
Referred to the Committee on Insurance and Financial Services
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 96 to 5 (details)
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 33 to 4 (details)
To require a new, lower minimum capital standard for a company that operates solely as a bail bond surety company. The current minimum is $7.5 million. The bill would lower this to $4.5 million, if the company also has $3 million in bond guarantees and securities in another state.
