Friday, December 11, 2009

House Passes H.R. 4173

The Wall Street Reform and Consumer Protection Act of 2009 (H.R. 4173), which included language on surplus lines, was approved on Friday by the U.S. House of Representatives.

The language, part of an amendment offered by Rep. Dennis Moore (D-KS) and Scott Garrett (R-NJ), establishes that the tax policies, licensing and other regulatory requirements of the home state of policyholders govern surplus lines transactions. The amendment, and several others, were approved to be included in the bill, which the House approved on Friday by a vote of 223-202.

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