[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2716 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 2716

To amend the charter of the Group Hospitalization and Medical Services, 
 Inc., to remove the partial exemption granted to the corporation from 
    the insurance laws and regulations of the District of Columbia.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 22, 1993

  Mr. Stark (for himself and Mr. McDermott) introduced the following 
 bill; which was referred to the Committee on the District of Columbia

_______________________________________________________________________

                                 A BILL


 
To amend the charter of the Group Hospitalization and Medical Services, 
 Inc., to remove the partial exemption granted to the corporation from 
    the insurance laws and regulations of the District of Columbia.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LEGAL DOMICILE.

    The first section of the Act entitled ``An Act providing for the 
incorporation of certain persons as Group Hospitalization, Inc.'', 
approved August 11, 1939 (hereafter referred to as ``the Act''), is 
amended by adding at the end the following: ``The District of Columbia 
shall be the legal domicile of the corporation.''.

SEC. 2. REGULATORY AUTHORITY.

    (a) In General.--Section 5 of the Act is amended to read as 
follows:
    ``Sec. 5. The corporation shall be licensed and regulated by the 
District of Columbia in accordance with the laws and regulations of the 
District of Columbia.''.
    (b) Repeal.--The Act is amended by striking section 7.

SEC. 3. REIMBURSEMENT OF REGULATORY COSTS BY THE CORPORATION.

    The Act (as amended by section 2 of this Act) is amended by 
inserting after section 6 the following new section:
    ``Sec. 7. The corporation shall reimburse the District of Columbia 
for the costs of insurance regulation (including financial and market 
conduct examinations) of the corporation and its affiliates and 
subsidiaries by the District of Columbia.''.

SEC. 4. EFFECTIVE DATE.

    The amendments made by this Act shall take effect October 1, 1993.

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