2006 Regular Session

SENATE BILL 300

CHAPTER NUMBER: 516 File Code: Insurance - Other than Health Crossfiled with: HOUSE BILL 271
Sponsored By:
Senators Kelley, Astle, Exum, Hafer, Hooper, Klausmeier, Brinkley, Garagiola, Gladden, Middleton, and Teitelbaum
Entitled:
Life Insurance - Insurable Interests - Trustees, Partnerships, Limited Partnerships, and Limited Liability Companies

Synopsis:

Providing that the trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy owned by the trust or the trustee of a trust if, on the date on which the policy is issued, specified conditions are met; providing that a partnership, limited partnership, or limited liability company has an insurable interest in the life of an individual insured under a specified life insurance policy if, on a specified date, specified conditions are met; etc.

History by Legislative Date

Senate Action
1/26
First Reading Finance
2/1
Hearing 2/15 at 1:00 p.m.
2/21
Favorable with Amendments Report by Finance
2/22
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
2/24
Third Reading Passed (47-0)
4/3
Returned Passed
House Action
2/27
First Reading Health and Government Operations
3/15
Hearing 3/30 at 1:00 p.m.
4/4
Favorable Report by Health and Government Operations
3/31
Favorable Report Adopted
Second Reading Passed
4/1
Third Reading Passed (136-0)
Action after passage in Senate and House
5/26
Became Law without Governor's signature per Maryland Constitution - Chapter 516

Sponsored by:

Senator Delores G. Kelley, District 10
Senator John C. Astle, District 30
Senator David R. Brinkley, District 4
Senator Nathaniel Exum, District 24
Senator Rob Garagiola, District 15
Senator Lisa A. Gladden, District 41
Senator John J. Hafer, District 1
Senator J. Robert Hooper, District 35
Senator Katherine Klausmeier, District 8
Senator Thomas M. Middleton, District 28
Senator Leonard H. Teitelbaum, District 19

Bill indexed under the following Subjects:

ESTATES AND TRUSTS
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
LIMITED LIABILITY COMPANIES
PARTNERSHIPS

Bill affects the following Statute:

Insurance
( 12-201 )

Documents:

Bill Text (Displayed in PDF Format): First Reading, Third Reading, Enrolled
Fiscal Note (Displayed in PDF Format): Available
Amendments (Displayed in WordPerfect 8 Format):
Senate
Number: 377774/01 (PDF)     Offered on: February 22, 2006   at: 10:51 a.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
February 24, 2006: Third Reading Passed (47-0)
House
April 1, 2006: Third Reading Passed (136-0)