SB 856 Establishes the "Senate Interim Committee on the Structure of the Missouri Employers Mutual Insurance Company" to study whether MEMIC should be sold, privatized, or have its current structure modified
Sponsor: Rupp
LR Number: 6067L.03C Fiscal Note available
Committee: Small Business, Insurance and Industry
Last Action: 5/18/2012 - H Calendar S Bills for Third Reading w/HCS Journal Page:
Title: HCS SCS SB 856 Calendar Position:
Effective Date: August 28, 2012
House Handler: Barnes

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Current Bill Summary


HCS/SCS/SB 856 - This act establishes the "Joint Interim Committee on the Structure of the Missouri Employers Mutual Insurance Company". The Joint interim committee shall consist of five Senators and five House members. Three of the Senate members shall be appointed by the President pro tempore of the Senate and two by the Senate minority leader. Three of the House members shall be appointed by the Speaker and two House members shall be appointed by the House minority leader. The interim committee shall meet at least 2 times between the months of August to December of 2012.

The interim committee shall study whether the Missouri Employers Mutual Insurance Company (MEMIC) should be sold, privatized, or have its current structure modified. The interim committee shall calculate the value of the MEMIC in case the committee recommends selling the company to another insurer. Under the act, the interim committee must submit a report of its findings to the General Assembly no later than December 31, 2012, and its jurisdiction shall end on such date.

STEPHEN WITTE