Slayer statute; insurance company not liable for policies acquired by slayer of decedent. (HB949)
Introduced By
Del. Sal Iaquinto (R-Virginia Beach)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Slayer statute. Amends the definition of "slayer" to include a person who is not convicted of murder, but who is determined, either before or after his death, by a court to have murdered the decedent by a preponderance of the evidence. The bill also provides that transferees or assignees claiming through a slayer cannot acquire property or benefits as a result of the slaying. The bill also eliminates a provision that absolved insurance companies from any liability on a life insurance policy for a decedent that was procured and paid for by the slayer. The bill also provides that the slayer statute does not serve to abrogate any common law right or remedy that prevent a slayer from profiting from his crime. The bill also makes several clarifying amendments to the slayer statute. Amends § 55-401 (“Definitions.”), § 55-406 (“Concurrent ownership without survivorship.”), § 55-411 (“Proceeds of insurance and bona fide payment by insurance company or obligor.”), § 55-414 (“Construction.”), of the Code of Virginia. View Full Text »
