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HR 4802 111th Congress House Finance and Financial Sector Administrative law and regulatory procedures Business ethics Business records Corporate finance and management Department of the Treasury Federal preemption Government studies and investigations Insurance industry and regulation Life, casualty, property insurance State and local government operations

Risk Retention Modernization Act of 2010

Introduced: March 10, 2010 See on congress.gov
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This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 10, 2010
Referred to the House Committee on Financial Services.
Mar 10, 2010
Introduced in House
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 Plain-English summary Congressional Research Service

Risk Retention Modernization Act of 2010 - Amends the Liability Risk Retention Act of 1986 to direct the Secretary of the Treasury to: (1) report periodically to the President and Congress on the extent of state compliance with the Act's prohibition of state regulation of risk retention and purchasing groups that are not domiciliaries of the state; and (2) issue certain corporate governance standards, meeting specified criteria, for risk retention groups.

Extends the coverage of the Act to risk retention groups offering commercial property insurance. Applies to commercial property insurance the exemption of purchasing groups from state law.

Revises procedures for: (1) submitting financial documents to state insurance commissioners; and (2) mandatory disclosures.

Imposes a fiduciary duty upon the board of directors of a risk retention group to operate in the best interests of the group.

Directs the Comptroller General to study and report to Congress on actions to ensure that states do not interfere with or regulate risk retention or purchasing groups in an extraterritorial manner precluded by the Act.

Redesignates the Act as the Risk Retention Act.

What's happening now March 10, 2010

Referred to the House Committee on Financial Services.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1
D
Welch, Peter
Vermont · Nov 17, 2010
Kosmas, Suzanne
· Mar 10, 2010
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4802: Risk Retention Modernization Act of 2010. 111th Congress. Open America. https://openamerica.io/bill/111-HR-4802/
MLA
"H.R. 4802: Risk Retention Modernization Act of 2010." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-4802/.
Bluebook (legal)
H.R. 4802, 111th Cong. (2026), https://openamerica.io/bill/111-HR-4802/.
Markdown link
[H.R. 4802: Risk Retention Modernization Act of 2010](https://openamerica.io/bill/111-HR-4802/)
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