Annuity contracts; interest on proceeds. (HB634)

Introduced By

Del. Terry Kilgore (R-Gate City)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Annuity contracts; interest on proceeds. Clarifies that an insurance company is required to pay interest on a death benefit claim under a variable annuity contract commencing from the date of the insurer's receipt of a completed claim form.

Outcome

Bill Has Passed

History

DateAction
01/07/2014Committee
01/07/2014Prefiled and ordered printed; offered 01/08/14 14101675D
01/07/2014Referred to Committee on Commerce and Labor
01/14/2014Reported from Commerce and Labor (21-Y 0-N) (see vote tally)
01/16/2014Read first time
01/17/2014Read second time and engrossed
01/20/2014Read third time and passed House BLOCK VOTE (96-Y 0-N)
01/20/2014VOTE: BLOCK VOTE PASSAGE (96-Y 0-N) (see vote tally)
01/21/2014Impact statement from SCC (HB634)
01/21/2014Constitutional reading dispensed
01/21/2014Referred to Committee on Commerce and Labor
01/23/2014Impact statement from SCC (HB634)
01/24/2014Impact statement from SCC (HB634)
02/24/2014Reported from Commerce and Labor (16-Y 0-N) (see vote tally)
02/26/2014Constitutional reading dispensed (38-Y 0-N)
02/27/2014Read third time
02/27/2014Passed Senate (40-Y 0-N)
03/04/2014Enrolled
03/04/2014Bill text as passed House and Senate (HB634ER)
03/04/2014Signed by Speaker
03/05/2014Impact statement from SCC (HB634ER)
03/07/2014Signed by President
03/31/2014G Approved by Governor-Chapter 411 (effective 7/1/14)
03/31/2014G Acts of Assembly Chapter text (CHAP0411)

Video

This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 40 seconds.