Raised S.B. No. 359
Session Year 2022
 


AN ACT CONCERNING THE INSURANCE DEPARTMENT'S RECOMMENDATIONS REGARDING THE STANDARD NONFORFEITURE LAW FOR LIFE INSURANCE.

To lower the minimum nonforfeiture interest rate from one per cent to 15 basis points which equals 0.15 per cent in accordance with the National Association of Insurance Commissioners model law guidance.

Introduced by:
Insurance and Real Estate Committee

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Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 5/17/2022Transmitted by Secretary of the State to Governor
 5/17/2022Transmitted to the Secretary of State
 5/13/2022(LCO)Public Act 22-91
 5/3/2022In Concurrence
 5/3/2022House Passed as Amended by Senate Amendment Schedule A
 5/3/2022House Adopted Senate Amendment Schedule A
 4/28/2022House Calendar Number 509
 4/28/2022Favorable Report, Tabled for the Calendar, House
 4/27/2022On Consent Calendar
 4/27/2022Senate Passed as Amended by Senate Amendment Schedule A
 4/27/2022Senate Adopted Senate Amendment Schedule A 5605
 3/29/2022(LCO)File Number 187
 3/29/2022Senate Calendar Number 158
 3/29/2022Favorable Report, Tabled for the Calendar, Senate
 3/29/2022(LCO)Reported Out of Legislative Commissioners' Office
 3/22/2022(LCO)Referred to Office of Legislative Research and Office of Fiscal Analysis 03/28/22 5:00 PM
 3/17/2022(LCO)Filed with Legislative Commissioners' Office
 3/17/2022(INS)Joint Favorable
 3/9/2022Public Hearing 03/15
 3/7/2022Referred to Joint Committee on Insurance and Real Estate

Co-sponsors of SB-359

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