P - Present
E - Excused
A - Absent
Roll Call
P Boomgarden
P Bradford
P Elliott
P Faehn
P Hunt
P Krebs
P Kroger
P Pederson (Gordon)
P Schafer
P Street
P Willadsen
P Rounds, Vice-Chair
P Sebert, Chair
OTHERS PRESENT: See Original Minutes
The meeting was called to order by Chair Sebert.
MOTION:
TO APPROVE THE MINUTES OF TUESDAY, JANUARY 24, 2006.
Moved by: Pederson (Gordon)
Second by: Krebs
Action: Prevailed by voice vote.
HB 1062: prohibit an insurance producer from being the beneficiary on certain life
insurance policies.
Presented by: Representative Mike Buckingham
Proponents: Larry Ahrendt, SD Assn. Of Insurance Agents
Opponents: Darla Pollman-Rogers, NAIFA-SD
Moved by: Rounds
Second by: Elliott
Action: Prevailed by voice vote.
MOTION:
DEFER HB 1062 TO THE 36TH LEGISLATIVE DAY
Moved by: Rounds
Second by: Street
Action: Prevailed by roll call vote.(11-2-0-0)
Voting Yes: Boomgarden, Elliott, Faehn, Hunt, Krebs, Pederson (Gordon), Schafer, Street,
Willadsen, Rounds, Sebert
Voting No: Bradford, Kroger
HB 1188: revise certain insurance liquidity provisions for private placement policies.
Presented by: Representative Joni Cutler (handout #1)
Proponents: Matt McCaulley, SD Trust Co.
Jeremiah Murphy, SD Trust Company & Citi-Bank
Randy Moses, Division of Insurance, answered questions from the committee.
MOTION:
DO PASS HB 1188
Moved by: Pederson (Gordon)
Second by: Willadsen
Action: Prevailed by roll call vote.(13-0-0-0)
Voting Yes: Boomgarden, Bradford, Elliott, Faehn, Hunt, Krebs, Kroger, Pederson (Gordon),
Schafer, Street, Willadsen, Rounds, Sebert
Cindy Tryon