3.0.0 5388 2023-01-11T13:25:50Z 2023-01-11T13:25:50Z House H HR 2014-07-31 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. WELCH:H.R. 5388.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18: The Congress shall havePower To . . . make all Laws which shall be necessary andproper for carrying into Execution the foregoing Powers, andall other Powers vested by this Constitution in theGovernment of the United States, or in any Department orOfficer thereof..[Page H7188]]]> hsju00 Judiciary Committee House Standing hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee Referred to 2014-09-26T20:00:36Z Referred to 2014-07-31T13:03:50Z hsba00 Financial Services Committee House Standing Referred to 2014-07-31T13:03:45Z Captive Insurers Clarification Act 113 2726 S 2014-07-31 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Identical bill CRS 2014-09-26 hsju05 Administrative State, Regulatory Reform, and Antitrust Subcommittee 1 House committee actions Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. Committee 2014-07-31 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsju00 Judiciary Committee 2014-07-31 Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2014-07-31 Introduced in House IntroReferral Intro-H 9 Library of Congress 2014-07-31 Introduced in House IntroReferral 1000 9 Library of Congress W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT N Finance and Financial Sector Insurance industry and regulation State and local government operations Finance and Financial Sector 00 2014-07-31 Introduced in House 2014-10-08T20:59:00Z Captive Insurers Clarification Act - Amends the Nonadmitted and Reinsurance Reform Act of 2010 to define "captive insurance company" as an insurance company wholly owned directly or indirectly: (1) by a single parent company, and whose primary purpose is to insure the risks of that single parent company or its affiliates; (2) by a group of companies, and whose primary purpose is to insure the risks of that group or its affiliates; and (3) by an industry, trade, or service group or association, and whose primary purpose is to insure the risks of any member in that group or association, including any member affiliate.

Excludes a captive insurance company from the meaning of a "nonadmitted insurer" (that is not licensed to engage in the business of insurance in a state), and from any requirements (including state tax requirements) applying to a nonadmitted insurer.

]]> Captive Insurers Clarification Act Display Title Captive Insurers Clarification Act Official Title as Introduced To clarify the definition of nonadmitted insurer under the Nonadmitted and Reinsurance Reform Act of 2010, and for other purposes. Introduced in House IH Short Titles as Introduced Captive Insurers Clarification Act Introduced in House 2014-07-31T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr5388ih/xml/BILLS-113hr5388ih.xml 2014-09-26 Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.