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2009 SESSION
HB 1972 Credit insurance; require that debtors be provided with notice disclosing right to refund premium.
Introduced by: R. Lee Ware, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Credit insurance. Requires that a disclosure notice be provided to debtors on credit property, credit involuntary unemployment, credit life, and credit accident and sickness insurance policies. No insurance contract upon a debtor paid by a single premium shall be made unless the debtor is provided with a notice disclosing the right to a refund of premium if the insurance is terminated prior to its scheduled maturity date or the insured debt is terminated or paid off early, and of the debtor's obligation to notify the insurer of certain events. The minimum amount of a refund is increased from $1 to $5. Policies and certificates are required to include a notice advising the debtor of his rights and the insurer's obligations regarding premium refunds. The State Corporation Commission shall not approve a form for credit property or credit involuntary unemployment insurance paid by a single premium unless the policy or certificate states that the unearned premium refund will be calculated on a pro rata basis.
FULL TEXT
- 01/13/09 House: Prefiled and ordered printed; offered 01/14/09 098466780 pdf | impact statement
- 01/30/09 House: Printed as engrossed 098466780-E pdf | impact statement
- 02/24/09 House: Bill text as passed House and Senate (HB1972ER) pdf | impact statement
- 03/30/09 Governor: Acts of Assembly Chapter text (CHAP0643) pdf
AMENDMENTS
HISTORY
- 01/13/09 House: Prefiled and ordered printed; offered 01/14/09 098466780
- 01/13/09 House: Referred to Committee on Commerce and Labor
- 01/27/09 House: Reported from Commerce and Labor with amendments (22-Y 0-N)
- 01/29/09 House: Read first time
- 01/30/09 House: Read second time
- 01/30/09 House: Committee amendments agreed to
- 01/30/09 House: Engrossed by House as amended HB1972E
- 01/30/09 House: Printed as engrossed 098466780-E
- 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 (HB1972ER)
- 02/25/09 House: Signed by Speaker
- 02/27/09 Senate: Signed by President
- 03/30/09 Governor: Approved by Governor-Chapter 643 (effective 7/1/09)
- 03/30/09 Governor: Acts of Assembly Chapter text (CHAP0643)