20071114-IR-760070144ARA RE: Rule pursuant to IC 20-42.5-2-1; LSA Doc #07-144; School Trusts

TITLE 760 DEPARTMENT OF INSURANCE

Administrative Rules Oversight Committee Notice

One Year Requirement (IC 4-22-2-25)

LSA Document #07-144

November 2, 2007

Representative Scott Pelath, Chairperson

Administrative Rules Oversight Committee

c/o Legislative Services Agency

200 West Washington Street, Suite 301

Indianapolis, Indiana 46204-2789

Attn: Allen Morford

RE: Rule pursuant to IC 20-42.5-2-1; LSA Doc #07-144; School Trusts

Dear Representative Pelath:

Pursuant to IC 20-42.5-2-1, the Commissioner may adopt rules to create a registration system and set standards for the conduct of insurance trusts created by public school corporations. On February 28, 2007, the Department published a notice of intent to promulgate a rule. The Department has held several meetings with industry personnel and has circulated several draft rules after incorporating industry comments. However, the Department anticipates that it may not complete the rulemaking process within 1 year and is hereby tendering notice under IC 4-22-2-25. The Department published a proposed rule on October 17, 2007, and will hold a public hearing on November 29, 2007. In order to provide ample time to review comments received at the public hearing and for the appropriate review times, the Department expects to have the final rule approved by June 1, 2008.

If you have any questions or need any additional information I can be reached at 232-0143.

Very truly yours,

Meggan J. R. Brumbaugh

Department of Insurance

Posted: 11/14/2007 by Legislative Services Agency

DIN: 20071114-IR-760070144ARA

Composed: Nov 01,2016 12:17:03AM EDT

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