ELECTRONIC MEETINGS; DELETE SUNSET S.B. 101:
SUMMARY OF BILL
REPORTED FROM COMMITTEE
Senate Bill 101 (as reported without amendment)
Sponsor: Senator Sarah Anthony
CONTENT
The bill would amend Chapter 52 (Corporate Powers, Procedures of Stock and Mutual Insurers) of the Insurance Code to eliminate September 30, 2022, sunsets on provisions that allow stockholders or directors of certain insurance corporations to adopt bylaws permitting, and to conduct, meetings through electronic means.
BRIEF RATIONALE
Apparently, members of an Insurance Board often have to choose between taking time off to travel to attend and participate in meetings in person or be deemed absent. It has been suggested that the Code be updated to reflect current technology and to allow members to attend meetings electronically.
Legislative Analyst: Eleni Lionas
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 3-8-23 Fiscal Analyst: Jonah Houtz
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.