2005 Regular Session

SENATE BILL 662

CHAPTER NUMBER: 498 File Code: Insurance - Other than Health Crossfiled with: HOUSE BILL 1192
Sponsored By:
Senator Astle
Entitled:
Insurance - Individual Deferred Annuities - Minimum Nonforfeiture Amounts

Synopsis:

Providing for the calculation of the minimum nonforfeiture amount under specified annuity contracts; providing for the calculation of and imposing conditions on the interest rate used in determining the minimum nonforfeiture amount under an annuity contract; requiring an insurer to provide specified information regarding the redetermination of an interest rate in an annuity contract; providing for the calculation of and imposing specified conditions on benefits for annuity contracts; etc.

History by Legislative Date

Senate Action
2/4
First Reading Finance
2/8
Hearing 2/22 at 1:00 p.m.
2/11
Hearing cancelled
2/14
Hearing 3/11 at 1:00 p.m.
3/2
Hearing cancelled
Hearing 3/11 at 2:00 p.m.
3/28

Favorable with Amendments Report by Finance
Favorable with Amendments Report Adopted
Second Reading Passed with Amendments
3/29
Third Reading Passed (46-1)
4/5
Returned Passed
House Action
3/28
First Reading House Rules and Executive Nominations
4/4
Re-referred Health and Government Operations
4/5
Hearing 4/5 at 1:00 p.m.
4/6
Favorable Report by Health and Government Operations
4/1
Favorable Report Adopted
Second Reading Passed
4/2
Third Reading Passed (136-0)
Action after passage in Senate and House
5/26
Signed by the Governor Chapter 498

Bill indexed under the following Subjects:

CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
DISCLOSURE
INSURANCE ADMINISTRATION
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
INTEREST
RULES AND REGULATIONS
SUNSET

Bill affects the following Statutes:

Insurance
( 16-503 , 16-504 , 16-504 , 16-510 )

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: 367373/01 (PDF)     Offered on: March 28, 2005   at: 10:23 p.m.     Status: Adopted
Roll Call Votes (Legislative dates are shown):
Senate
March 29, 2005: Third Reading Passed (46-1)
House
April 2, 2005: Third Reading Passed (136-0)