Life insurance; funding preneed funeral contracts. (HB2467)
Introduced By
Del. Harvey Morgan (R-Gloucester)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Funding preneed funeral contracts with life insurance. Requires that life insurance policies, annuity contracts, and certificates issued in connection with group life insurance policies or group annuity contracts specify the means by which face amount adjustments will be made, and benefits payable upon death will be adjusted, when they will be used to fund preneed funeral contracts. The measure also requires insurers proposing to issue life insurance policies or annuity contracts for purposes of funding preneed funeral contracts to disclose clearly their intended purpose and market when the forms are submitted for State Corporation Commission approval. Read the Bill »
Outcome
Bill Has Passed
History
| Date | Action |
|---|---|
| 01/14/2009 | Committee |
| 01/14/2009 | Prefiled and ordered printed; offered 01/14/09 090038652 |
| 01/14/2009 | Referred to Committee on Commerce and Labor |
| 01/21/2009 | Assigned C & L sub: 2 |
| 01/26/2009 | Impact statement from SCC (HB2467) |
| 01/29/2009 | Subcommittee recommends reporting |
| 02/03/2009 | Reported from Commerce and Labor (17-Y 0-N) (see vote tally) |
| 02/05/2009 | Read first time |
| 02/06/2009 | Read second time and engrossed |
| 02/08/2009 | Passed by for the day |
| 02/09/2009 | Read third time and passed House (98-Y 0-N 1-A) |
| 02/09/2009 | VOTE: --- PASSAGE (98-Y 0-N 1-A) (see vote tally) |
| 02/10/2009 | Constitutional reading dispensed |
| 02/10/2009 | Referred to Committee on Commerce and Labor |
| 02/11/2009 | Constitutional reading dispensed |
| 02/11/2009 | Referred to Committee on Commerce and Labor |
| 02/23/2009 | Reported from Commerce and Labor (15-Y 0-N) (see vote tally) |
| 02/24/2009 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
| 02/25/2009 | Read third time |
| 02/25/2009 | Passed Senate (40-Y 0-N) (see vote tally) |
| 03/04/2009 | Enrolled |
| 03/04/2009 | Bill text as passed House and Senate (HB2467ER) |
| 03/05/2009 | Impact statement from SCC (HB2467ER) |
| 03/05/2009 | Signed by President |
| 03/06/2009 | Signed by Speaker |
| 03/30/2009 | G Approved by Governor-Chapter 653 (effective 7/1/09) |
| 03/30/2009 | G Acts of Assembly Chapter text (CHAP0653) |