PROVIDED SUMMARY
Foreign and Alien Bail Bond Insurers; Provides duties of certain foreign & alien bail bond insurers relating to reporting bail bond premiums to OIR, keeping records of considerations paid for bail bonds written by insurers, & disclosing certain information in financial statements filed with office.
Full bill text →
Plain English Summary
AI-GENERATED
Extends bail bond reporting duties to foreign insurers.
Foreign and alien bail bond insurers must now report premiums to the Office of Insurance Regulation.
These insurers must keep records of all consideration paid for bail bonds they write.
They must disclose specific premium information in their annual financial statements filed with the state.
The bill adds these duties to match existing requirements for domestic insurers.
KEY PROVISIONS
AIRequires foreign and alien insurers to report direct written premiums net of agent-retained amounts, matching the existing rule for domestic insurers.
“direct written premiums for bail bonds by a domestic, foreign, or alien insurer doing business in this state shall be reported net of any amounts retained by licensed bail bond”
bill text, line 21 →
AIObligates foreign and alien insurers to maintain complete and accurate records of all consideration paid for bail bonds they write.
“Each domestic, foreign, or alien bail bond insurer shall keep complete and accurate records of the total consideration paid for all bail bonds written by such insurer”
bill text, line 33 →
AIRequires foreign and alien insurers to disclose gross bail bond premiums written in each state in the notes to their annual financial statements.
“Each domestic, foreign, or alien bail bond insurer shall disclose the following information in the notes to the financial statement in the insurer's annual statement filed with the”
bill text, line 36 →
AIRequires foreign and alien insurers to report assumed premiums consistent with existing domestic reporting standards.
“Premiums assumed by a domestic, foreign, or alien insurer shall be reported consistent with subsections (1) and (4) for purposes of filing financial statements with the office”
bill text, line 30 →
TIMELINE
5/7/2026
Chapter No. 2026-61
5/6/2026
Approved by Governor
4/30/2026
Signed by Officers and presented to Governor
3/6/2026
Passed; YEAS 34 NAYS 0 -SJ 673
3/6/2026
Read 3rd time -SJ 673
3/6/2026
Read 2nd time -SJ 673
3/6/2026
Substituted for SB 642 -SJ 673
3/6/2026
Placed on Calendar, on 2nd reading
3/6/2026
Withdrawn from Rules -SJ 673
2/18/2026
Referred to Rules
2/17/2026
Passed; YEAS 107, NAYS 1
2/17/2026
Added to Third Reading Calendar
2/10/2026
Bill added to Special Order Calendar (2/17/2026)
2/3/2026
Added to Second Reading Calendar
2/3/2026
Bill released to House Calendar
2/3/2026
Reported out of Commerce Committee
2/3/2026
Favorable by Commerce Committee
1/30/2026
Added to Commerce Committee agenda
1/29/2026
Now in Commerce Committee
1/29/2026
Reported out of Insurance & Banking Subcommittee
1/29/2026
Favorable by Insurance & Banking Subcommittee
1/27/2026
Added to Insurance & Banking Subcommittee agenda
1/13/2026
1st Reading (Original Filed Version)
11/4/2025
Now in Insurance & Banking Subcommittee
11/4/2025
Referred to Commerce Committee
11/4/2025
Referred to Insurance & Banking Subcommittee
27 EARLIER →
STATUTES IT CHANGES
STAFF ANALYSES