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republic-os/legislation/us/states/ca/20152016/sb-696.md
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Fabio 5a13be122b Legislation: batch E — CA TN VA VT WA WI WV WY 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:28:36 -04:00

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---
type: "Bill"
title: "Insurance: principle-based valuation."
description: "Existing law governs the issuance of life and disability insurance and authorizes the Insurance Commissioner to regulate those insurers. Existing law requires every life and disability insurer doing business in this state to annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the commissioner by regulation are computed appropriately, are based on assumptions that satisfy contractual provisions, are consistent with prior reported amounts, and comply with applicable state law. Among other things, existing law requires insurers to calculate the minimum standard for the valuation of those policies and contracts using specified mortality tables approved by the commissioner, sets forth the applicable interest rates, and establishes the reserve requirements for various types of life and disability policies and contracts."
jurisdiction: "us/states/ca"
legislature: "California Legislature"
session: "20152016"
identifier: "SB 696"
citation: "California SB 696 (20152016)"
classification: ["bill"]
subjects: ["Insurance: principle-based valuation."]
status: "enacted"
primary_sponsors: ["Roth"]
version_count: 10
action_count: 33
vote_count: 10
first_action: "2015-02-27"
last_action: "2015-10-08"
source: "openstates"
source_identifier: "ocd-bill/9e7e23c1-4180-43a8-926b-0f3cb2720156"
source_url: "http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160SB696"
source_hash: "a8167584085a7960d90a527f534558ff2d42576d4f7d3bfefd5dae285b45e81d"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ca"]
---
# California SB 696 (20152016) — Insurance: principle-based valuation.
Existing law governs the issuance of life and disability insurance and authorizes the Insurance Commissioner to regulate those insurers. Existing law requires every life and disability insurer doing business in this state to annually submit the opinion of a qualified actuary as to whether the reserves and related actuarial items held in support of the policies and contracts specified by the commissioner by regulation are computed appropriately, are based on assumptions that satisfy contractual provisions, are consistent with prior reported amounts, and comply with applicable state law. Among other things, existing law requires insurers to calculate the minimum standard for the valuation of those policies and contracts using specified mortality tables approved by the commissioner, sets forth the applicable interest rates, and establishes the reserve requirements for various types of life and disability policies and contracts.
## Version chain
The bill's text revisions, in order — the diff chain from filing to enrollment.
1. **02/27/15 - Introduced** (filed) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69699INT)
2. **04/14/15 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69698AMD)
3. **05/05/15 - Amended Senate** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69697AMD)
4. **06/29/15 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69696AMD)
5. **07/02/15 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69695AMD)
6. **07/16/15 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69694AMD)
7. **08/28/15 - Amended Assembly** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69693AMD)
8. **10/08/15 - Chaptered** (committee substitute) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69691CHP)
9. **SB696** (committee substitute) — [source](http://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201520160SB696)
10. **09/10/15 - Enrolled** (enrolled) — [source](https://leginfo.legislature.ca.gov/faces/billPdf.xhtml?bill_id=201520160SB696&version=20150SB69692ENR)
## Votes
- 3rd Reading — **38–1** (pass) · upper
- SB 696 Roth Senate Third Reading By COOLEY — **78–0** (pass) · lower
- Do pass — **6–0** (pass) · upper
- Do pass as amended. — **17–0** (pass) · lower
- Placed on suspense file — **7–0** (pass) · upper
- Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations] with the recommendation: To Consent Calendar — **6–0** (pass) · upper
- Do pass, but first be re-referred to the Committee on [Judiciary] — **7–0** (pass) · upper
- Do pass as amended and be re-referred to the Committee on [Appropriations] — **10–0** (pass) · lower
- Do pass and be re-referred to the Committee on [Judiciary] — **13–0** (pass) · lower
- Unfinished Business SB696 Roth Concurrence — **39–0** (pass) · upper
## Sponsors
- Roth — primary (person)
## Timeline
The legislative action history — every referral, reading, and vote.
- **2015-02-27** Introduced. To Com. on RLS. for assignment. To print. `introduction`
- **2015-03-02** From printer. May be acted upon on or after April 1.
- **2015-03-02** Read first time. `reading-1`
- **2015-03-19** Referred to Coms. on INS. and JUD. `referral-committee`
- **2015-03-27** Set for hearing April 22.
- **2015-04-14** From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS. `referral-committee, reading-2, amendment-passage, committee-passage, reading-1`
- **2015-04-22** From committee: Do pass and re-refer to Com. on JUD. (Ayes 7. Noes 0. Page 727.) (April 22). Re-referred to Com. on JUD. `referral-committee, committee-passage-favorable, committee-passage`
- **2015-04-23** Set for hearing April 28.
- **2015-05-04** From committee: Do pass as amended and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 6. Noes 0. Page 820.) (April 28). `committee-passage-favorable, committee-passage, amendment-passage`
- **2015-05-05** Read second time and amended. Re-referred to Com. on APPR. `referral-committee, reading-2, amendment-passage, reading-1`
- **2015-05-08** Set for hearing May 18.
- **2015-05-18** May 18 hearing: Placed on APPR. suspense file.
- **2015-05-23** Set for hearing May 28.
- **2015-05-28** From committee: Do pass. (Ayes 6. Noes 0. Page 1159.) (May 28). `committee-passage-favorable, committee-passage`
- **2015-05-28** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2015-06-01** Read third time. Passed. (Ayes 38. Noes 1. Page 1210.) Ordered to the Assembly. `reading-3, passage, reading-1`
- **2015-06-02** In Assembly. Read first time. Held at Desk. `reading-1`
- **2015-06-18** Referred to Coms. on INS. and JUD. `referral-committee`
- **2015-06-29** From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS. `referral-committee, reading-2, amendment-passage, committee-passage, reading-1`
- **2015-07-02** From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS. `referral-committee, reading-2, amendment-passage, committee-passage, reading-1`
- **2015-07-08** From committee: Do pass and re-refer to Com. on JUD. (Ayes 13. Noes 0.) (July 8). Re-referred to Com. on JUD. `referral-committee, committee-passage-favorable, committee-passage`
- **2015-07-15** From committee: Do pass as amended and re-refer to Com. on APPR. (Ayes 10. Noes 0.) (July 14). `committee-passage-favorable, committee-passage, amendment-passage`
- **2015-07-16** Read second time and amended. Re-referred to Com. on APPR. `referral-committee, reading-2, amendment-passage, reading-1`
- **2015-08-19** August 19 set for first hearing. Placed on APPR. suspense file.
- **2015-08-28** From committee: Do pass as amended. (Ayes 17. Noes 0.) (August 27). `committee-passage-favorable, committee-passage, amendment-passage`
- **2015-08-28** Read second time and amended. Ordered to second reading. `amendment-passage, reading-2, reading-1`
- **2015-08-31** Read second time. Ordered to third reading. `reading-2, reading-1`
- **2015-09-08** Read third time. Passed. (Ayes 78. Noes 0. Page 2962.) Ordered to the Senate. `reading-3, passage, reading-1`
- **2015-09-08** In Senate. Concurrence in Assembly amendments pending.
- **2015-09-10** Assembly amendments concurred in. (Ayes 39. Noes 0. Page 2670.) Ordered to engrossing and enrolling. `committee-passage-favorable, amendment-passage`
- **2015-09-15** Enrolled and presented to the Governor at 9:30 a.m.
- **2015-10-08** Approved by the Governor. `executive-signature`
- **2015-10-08** Chaptered by Secretary of State. Chapter 658, Statutes of 2015.
## Source
OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/9e7e23c1-4180-43a8-926b-0f3cb2720156`. Confidence: reported (aggregated from official California legislature records).
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