Annuity contracts; interest on proceeds. (SB86)

Introduced By

Sen. John Watkins (R-Midlothian) with support from co-patron Sen. Jeff McWaters (R-Virginia Beach)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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. Read the Bill »


Bill Has Passed


12/20/2013Prefiled and ordered printed; offered 01/08/14 14103088D
12/20/2013Referred to Committee on Commerce and Labor
01/13/2014Reported from Commerce and Labor (14-Y 0-N) (see vote tally)
01/15/2014Constitutional reading dispensed (38-Y 0-N)
01/16/2014Read second time and engrossed
01/17/2014Read third time and passed Senate (38-Y 0-N)
01/21/2014Impact statement from SCC (SB86)
01/23/2014Impact statement from SCC (SB86)
01/23/2014Placed on Calendar
01/23/2014Read first time
01/23/2014Referred to Committee on Commerce and Labor
01/24/2014Impact statement from SCC (SB86)
02/13/2014Reported from Commerce and Labor (20-Y 0-N) (see vote tally)
02/17/2014Read second time
02/18/2014Read third time
02/18/2014Passed House BLOCK VOTE (97-Y 0-N)
02/18/2014VOTE: BLOCK VOTE PASSAGE (97-Y 0-N) (see vote tally)
02/20/2014Bill text as passed Senate and House (SB86ER)
02/20/2014Impact statement from SCC (SB86ER)
02/20/2014Signed by Speaker
02/22/2014Signed by President
03/05/2014G Approved by Governor-Chapter 155 (effective 7/1/14)
03/05/2014G Acts of Assembly Chapter text (CHAP0155)