- TITLE 760 DEPARTMENT OF INSURANCE
Administrative Rules Oversight Committee Notice One Year Requirement ( IC 4-22-2-25 )LSA Document #09-377
February 5, 2010
Representative Scott Pelath, ChairpersonAdministrative Rules Oversight Committeec/o Legislative Services Agency200 West Washington Street, Suite 301Indianapolis, Indiana 46204-2789Attn: Sarah Burkman
RE: LSA Document #09-377 – Annuity Disclosure
Dear Representative Pelath:
On behalf of the Indiana Department of Insurance (Department), I am submitting this notice to the Administrative Rules Oversight Committee in compliance withIC 4-22-2-25 , because the Department has determined that the promulgation of the captioned rule may not be completed within one year after publication of the Notice of Intent to Adopt a Rule. The Department published a notice of intent on June 3, 2009. The proposed rule is based upon a National Association of Insurance Commissioners (NAIC) model rule, which is currently being revised by the NAIC. The Department determined that it would be appropriate to wait until revisions to the NAIC model rule are finalized before moving forward with a proposed rule. The Department expects to publish a proposed rule by May 1, 2010, and expects to hold a public hearing by June 1, 2010. 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 September 1, 2010.
The notice setting forth the expected date of approval of LSA Document #09-377 as September 1, 2010, is being submitted in a timely manner. February 8, 2010, is the two hundred fiftieth day after publication of the Notice of Intent to Adopt a Rule.
Sincerely,
Meggan J. R. BrumbaughDepartment of Insurance
Posted: 02/17/2010 by Legislative Services Agency
DIN: 20100217-IR-760090377ARAComposed: Nov 01,2016 12:51:32AM EDTA PDF version of this document.
