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2009 SESSION
HB 1971 Credit life insurance; reserve standards.
Introduced by: R. Lee Ware, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Credit life insurance reserve standards. Recognizes the 2001 CSO Male Composite Ultimate Mortality Table for use in determining the minimum standard of valuation for credit life insurance reserves, and the 1985 Commissioners' Individual Disability Table A in determining the standard for valuation of reserves for credit accident and sickness plans. The measure also specifies the interest rate and method to be used in determining the minimum standard of valuation. In addition, for credit life and disability contracts in the aggregate, insurers are required to establish an additional reserve liability if the net premium refund liability exceeds the aggregate recorded contract reserve.
FULL TEXT
- 01/13/09 House: Prefiled and ordered printed; offered 01/14/09 098467780 pdf | impact statement
- 02/24/09 House: Bill text as passed House and Senate (HB1971ER) pdf | impact statement
- 03/30/09 Governor: Acts of Assembly Chapter text (CHAP0642) pdf
HISTORY
- 01/13/09 House: Prefiled and ordered printed; offered 01/14/09 098467780
- 01/13/09 House: Referred to Committee on Commerce and Labor
- 01/27/09 House: Reported from Commerce and Labor (22-Y 0-N)
- 01/29/09 House: Read first time
- 01/30/09 House: Read second time and engrossed
- 02/02/09 House: Read third time and passed House BLOCK VOTE (97-Y 0-N)
- 02/02/09 House: VOTE: BLOCK VOTE PASSAGE (97-Y 0-N)
- 02/02/09 House: Reconsideration of passage agreed to by House
- 02/02/09 House: Passed House BLOCK VOTE (98-Y 0-N)
- 02/02/09 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/03/09 Senate: Constitutional reading dispensed
- 02/03/09 Senate: Referred to Committee on Commerce and Labor
- 02/16/09 Senate: Reported from Commerce and Labor (15-Y 0-N)
- 02/18/09 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/19/09 Senate: Read third time
- 02/19/09 Senate: Passed Senate (40-Y 0-N)
- 02/24/09 House: Enrolled
- 02/24/09 House: Bill text as passed House and Senate (HB1971ER)
- 02/25/09 House: Signed by Speaker
- 02/27/09 Senate: Signed by President
- 03/30/09 Governor: Approved by Governor-Chapter 642 (effective 7/1/09)
- 03/30/09 Governor: Acts of Assembly Chapter text (CHAP0642)