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1997 SESSION
HB 871 Viatical agreement monitoring.
Introduced by: Marian Van Landingham | all patrons ... notes | add to my profiles
SUMMARY:
Viatical agreement monitoring. Authorizes the State Corporation Commission to require any person engaging in the business of brokering or providing viatical agreements to first register, in accordance with the Commission's procedures and to pay a registration fee. The Commission is also authorized to investigate viatical brokers or providers after receiving a complaint. No regulatory activities are authorized.
Viatical agreements are contracts to purchase insurance benefits for lump sums from individuals who are terminally ill, when the lump sum payment is less than the death benefits. These agreements are, in effect, "death futures."
There is a growing and quite aggressive viatical industry in the United States which developed in response to the AIDS epidemic and other terminal illnesses. The financial needs of patients who have reached a low ebb in their financial resources can be accommodated in this manner.
This unregulated industry provides the means, for patients' whose life insurance policies do not include living benefits, for maintaining a quality of life that would otherwise be impossible. The potential for exploitation of vulnerable and seriously ill individuals has created some concerns.
FULL TEXT
- 01/22/96 House: Presented & ordered printed 966371476 pdf
- 12/09/96 House: Committee substitute printed 977654476-H1 pdf
- 12/09/96 House: Introduced bill reprinted 966371476 pdf
- 12/23/96 House: Introduced bill reprinted 966371476 pdf
- 03/04/97 House: Bill text as passed House and Senate (HB871ER) pdf
- 04/02/97 House: Reenrolled bill text (HB871ER) pdf
- 04/07/97 Governor: Acts of Assembly Chapter text (CHAP0814) pdf
AMENDMENTS
HISTORY
- 01/22/96 House: Presented & ordered printed 966371476
- 01/22/96 House: Referred to Committee on Corporations, Insurance and Banking
- 02/06/96 House: Continued to 1997 in C. I. B. (22-Y 0-N)
- 11/21/96 House: Reported from C. I. B. w/sub. (22-Y 0-N)
- 12/09/96 House: Committee substitute printed 977654476-H1
- 12/09/96 House: Introduced bill reprinted 966371476
- 12/23/96 House: Introduced bill reprinted 966371476
- 01/09/97 House: Read first time
- 01/10/97 House: Read second time
- 01/10/97 House: Committee substitute agreed to 977654476-H1
- 01/10/97 House: Engrossed by House - com. sub. 977654476-H1
- 01/13/97 House: Read third time and passed House (Block Vote) (95-Y 0-N)
- 01/13/97 House: VOTE: BLOCK VOTE PASSAGE (95-Y 0-N)
- 01/13/97 House: Communicated to Senate
- 01/14/97 Senate: Constitutional reading dispensed (40-Y 0-N)
- 01/14/97 Senate: Referred to Committee on Commerce and Labor
- 02/17/97 Senate: Reported from C. & L. with amendments (14-Y 0-N)
- 02/18/97 Senate: Constitutional reading dispensed (39-Y 0-N)
- 02/18/97 Senate: VOTE: CONST. READING DISPENSED (39-Y 0-N)
- 02/19/97 Senate: Read third time
- 02/19/97 Senate: Reading of amendments waived
- 02/19/97 Senate: Committee amendments agreed to
- 02/19/97 Senate: Engrossed by Senate as amended
- 02/19/97 Senate: Passed Senate with amendments (39-Y 0-N)
- 02/19/97 Senate: VOTE: PASSAGE (39-Y 0-N)
- 02/20/97 House: Placed on Calendar
- 02/20/97 House: Senate amendments agreed to by House (98-Y 0-N)
- 02/20/97 House: VOTE: ADOPTION (98-Y 0-N)
- 03/04/97 House: Bill text as passed House and Senate (HB871ER)
- 03/07/97 House: Enrolled
- 03/07/97 House: Signed by Speaker
- 03/08/97 Senate: Signed by President
- 03/24/97 House: Governor's recommendation received by House
- 04/02/97 House: House concurred in Gov's rec. (Block Vote) (99-Y 0-N)
- 04/02/97 House: VOTE: BLOCK VOTE ADOPTION (99-Y 0-N)
- 04/02/97 Senate: Senate concurred in Gov's recommendation (38-Y 0-N)
- 04/02/97 Senate: VOTE: (38-Y 0-N)
- 04/02/97 Governor: Governor's recommendation adopted
- 04/02/97 House: Reenrolled
- 04/02/97 House: Reenrolled bill text (HB871ER)
- 04/02/97 House: Signed by Speaker as reenrolled
- 04/02/97 Senate: Signed by President as reenrolled
- 04/02/97 House: Enacted, Chapter 814 (effective 7/1/97)
- 04/07/97 Governor: Acts of Assembly Chapter text (CHAP0814)