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2003 SESSION

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HB 2609 Annuity contracts; minimum interest rate.

Introduced by: L. Preston Bryant, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Annuity contracts; minimum interest rate. Reduces the minimum interest rate on individual deferred annuities issued by insurance companies between April 1, 2003, and July 1, 2005, from three percent to 1.5 percent per year. The interest rate applies to minimum nonforfeiture amounts applicable to net considerations, partial withdrawals, and partial surrenders. The measure has an emergency clause.

FULL TEXT

• 01/08/03  House: Pres. & ord. printed w/emg. clause pref.01/08/03 030029652  pdf | impact statement
• 01/17/03  House: Committee substitute printed 030338652-H1  pdf | impact statement
• 02/27/03  House: Bill text as passed House and Senate (HB2609ER)  pdf | impact statement
• 03/26/03  Governor: Acts of Assembly Chapter text (CHAP0440)  pdf

HISTORY

• 01/08/03  House: Pres. & ord. printed w/emg. clause pref.01/08/03 030029652
• 01/08/03  House: Referred to Committee on Commerce and Labor
• 01/16/03  House: Reported from C. & L. with substitute (22-Y 0-N)
• 01/17/03  House: Committee substitute printed 030338652-H1
• 01/20/03  House: Read first time
• 01/21/03  House: Read second time
• 01/21/03  House: Committee substitute agreed to 030338652-H1
• 01/21/03  House: Engrossed by House - committee substitute 030338652-H1
• 01/22/03  House: Read third time and passed House (99-Y 0-N)
• 01/22/03  House: VOTE: PASSAGE EMERGENCY (99-Y 0-N)
• 01/22/03  House: Communicated to Senate
• 01/23/03  Senate: Constitutional reading dispensed
• 01/23/03  Senate: Referred to Committee on Commerce and Labor
• 02/10/03  Senate: Reported from Commerce and Labor (15-Y 0-N)
• 02/12/03  Senate: Const. reading disp., passed by for the day (40-Y 0-N)
• 02/12/03  Senate: VOTE: CONST. RDG. DISPENSED R (40-Y 0-N)
• 02/13/03  Senate: Read third time
• 02/13/03  Senate: Passed Senate (39-Y 0-N)
• 02/13/03  Senate: VOTE: PASSAGE R (39-Y 0-N)
• 02/13/03  Senate: Rec. of Sen. passage agreed to by Senate (38-Y 0-N)
• 02/13/03  Senate: VOTE: (38-Y 0-N)
• 02/13/03  Senate: Passed Senate (38-Y 0-N)
• 02/13/03  Senate: VOTE: (38-Y 0-N)
• 02/27/03  House: Bill text as passed House and Senate (HB2609ER)
• 03/05/03  House: Enrolled
• 03/05/03  House: Signed by Speaker
• 03/06/03  Senate: Signed by President
• 03/16/03  Governor: Approved by Governor-Chapter 440 (effective 3/16/03)
• 03/26/03  Governor: Acts of Assembly Chapter text (CHAP0440)