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CS/HB 1041: Unclaimed Property

GENERAL BILL by Regulatory Affairs Committee ; Hager ; (CO-INTRODUCERS) Adkins ; Clarke-Reed ; Combee ; Dudley ; Jenne ; Raulerson ; Rodrigues, R. ; Rogers ; Watson, C. ; Wood

Unclaimed Property; Revises presumption of when funds held or owing under matured or terminated life or endowment insurance policy or annuity contract are unclaimed; revises conditions of when certain insurance policies or annuity contracts are deemed matured & proceeds are due & payable; requires insurer to compare records of certain insurance policies, annuity contracts, & retained asset accounts for certain purposes; provides requirements for comparison; provides for presumption of death for certain individuals; requires insurer to account for certain variations in data & partial information; provides circumstances under which policy, contract, or account is deemed to be in force; requires insurer to follow certain procedures after learning of death through specified comparison; authorizes insurer to disclose certain personal information to specified persons or entities for certain purposes; prohibits insurer & specified entities from charging fees & costs associated with certain activities; provides retroactive applicability.

Effective Date: upon becoming a law
Last Action: 3/4/2016 House - Laid on Table, companion bill(s) passed, see CS/SB 966 (Ch. 2016-219) -HJ 815
Location: Laid on Table
Bill Text: PDF

Bill History

Date Chamber Action
12/28/2015 House • Filed
1/8/2016 House • Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 88
1/12/2016 House • Introduced -HJ 88
1/14/2016 House • On Committee agenda-- Insurance and Banking Subcommittee, 01/19/16, 1:00 pm, Sumner Hall
1/19/2016 House • Favorable by Insurance and Banking Subcommittee; YEAS 12 NAYS 0 -HJ 242
• Now in Government Operations Appropriations Subcommittee -HJ 242
1/29/2016 House • On Committee agenda-- Government Operations Appropriations Subcommittee, 02/02/16, 10:30 am, Morris Hall
2/2/2016 House • Favorable by Government Operations Appropriations Subcommittee; YEAS 11 NAYS 0 -HJ 365
• Now in Regulatory Affairs Committee -HJ 365
2/23/2016 House • On Committee agenda-- Regulatory Affairs Committee, 02/25/16, 9:00 am, Sumner Hall
2/25/2016 House • CS by- Regulatory Affairs Committee; YEAS 15 NAYS 0 -HJ 605
2/29/2016 House • Pending review of CS -under Rule 7.19(c)
• CS by Regulatory Affairs Committee read 1st time -HJ 603
3/1/2016 House • Placed on Calendar -HJ 638
3/2/2016 House • Placed on Special Order Calendar, 03/04/16
3/4/2016 House • Substituted CS/SB 966 -HJ 815
• Laid on Table, companion bill(s) passed, see CS/SB 966 (Ch. 2016-219) -HJ 815