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- Subject Index: Since 1995
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Developed and maintained by the Division of Legislative Automated Systems.
2011 SESSION
HB 1458 Retained asset accounts; disclosures to beneficiaries.
Introduced by: Robert G. Marshall | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Life insurance; retained asset accounts. Requires insurance companies licensed in the Commonwealth that offer retained asset accounts for death benefits to provide the beneficiary, at the time a claim is made, with written information describing the settlement options available under the policy. If the insurer settles benefits through a retained asset account, the insurer shall provide the beneficiary with a supplemental contract that clearly discloses the rights of the beneficiary and the obligations of the insurer under the supplemental contract. The insurer is also required to make certain disclosures regarding retained asset accounts. SB 1388 is identical.
FULL TEXT
- 11/29/10 House: Prefiled and ordered printed; offered 01/12/11 11100164D pdf | impact statement
- 01/25/11 House: Committee substitute printed 11104413D-H1 pdf | impact statement
- 02/23/11 House: Bill text as passed House and Senate (HB1458ER) pdf | impact statement
- 03/16/11 Governor: Acts of Assembly Chapter text (CHAP0194) pdf
HISTORY
- 11/29/10 House: Prefiled and ordered printed; offered 01/12/11 11100164D
- 11/29/10 House: Referred to Committee on Commerce and Labor
- 01/25/11 House: Reported from Commerce and Labor with substitute (22-Y 0-N)
- 01/25/11 House: Committee substitute printed 11104413D-H1
- 01/27/11 House: Read first time
- 01/28/11 House: Read second time
- 01/28/11 House: Committee substitute agreed to 11104413D-H1
- 01/28/11 House: Engrossed by House - committee substitute HB1458H1
- 01/31/11 House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 01/31/11 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/01/11 Senate: Constitutional reading dispensed
- 02/01/11 Senate: Referred to Committee on Commerce and Labor
- 02/14/11 Senate: Reported from Commerce and Labor (14-Y 0-N)
- 02/16/11 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/17/11 Senate: Read third time
- 02/17/11 Senate: Passed Senate (39-Y 0-N)
- 02/23/11 House: Enrolled
- 02/23/11 House: Bill text as passed House and Senate (HB1458ER)
- 02/23/11 House: Signed by Speaker
- 02/23/11 Senate: Signed by President
- 03/16/11 Governor: Approved by Governor-Chapter 194 (effective 7/1/11)
- 03/16/11 Governor: Acts of Assembly Chapter text (CHAP0194)