1.1.................... moves to amend H.F. No. 1012 as follows:
1.2Delete everything after the enacting clause and insert:

1.3    "Section 1. [60A.7671] LIMIT ON THE SURPLUS OF CERTAIN HEALTH
1.4INSURERS.
1.5(a) Notwithstanding any other law to the contrary, a nonprofit health services
1.6corporation operating under chapter 62C and a health maintenance organization operating
1.7under chapter 62D must not have statutory capital and surplus, as determined in accordance
1.8with the statutory accounting applicable to the annual financial statements required to be
1.9filed, in excess of the product of its authorized control level risk-based capital and 5.0. The
1.10amounts shall be determined from a financial statement and certified audit filed annually
1.11with the commissioner and subject to verification by an examination by the commissioner.
1.12(b) If for any annual financial report the maximum required under this section is
1.13exceeded, the commissioner shall issue, and an entity regulated under this section shall
1.14comply with, a corrective action as defined in section 60A.50, subdivision 4.
1.15EFFECTIVE DATE.This section is effective January 1, 2010, and applies to
1.16reserves reported for calendar year 2010 and thereafter."
1.17Delete the title and insert:
1.19relating to insurance; specifying maximum financial surplus for nonprofit health
1.20plan companies;proposing coding for new law in Minnesota Statutes, chapter
1.2160A."