CS/HB 167: Annuities
GENERAL BILL by Insurance and Banking Subcommittee ; Broxson ; (CO-INTRODUCERS) Fasano
Annuities; Provides that recommendations relating to annuities made by insurer or its agents apply to all consumers not just senior consumers; revises & provides definitions; revises duties of insurers & agents; provides that recommendations must be based on consumer suitability information; revises information relating to annuities that must be provided by insurer or its agent to consumer; revises requirements for monitoring contractors that provide certain functions for insurer relating to insurer's system for supervising recommendations; revises provisions relating to relationship between act & federal Financial Industry Regulatory Authority; prohibits specified charges for annuities issued to persons 65 years of age or older; increases period that unconditional refund must remain available with respect to certain annuity contracts; makes such unconditional refunds available to all prospective annuity contract buyers without regard to buyer's age; revises requirements for cover pages of annuity contracts.
Last Action: 4/29/2013 House - Laid on Table, companion bill(s) passed, see CS/CS/SB 166 (Ch. 2013-163) -HJ 942
Bill Text: PDF
• Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 31
• On Committee agenda-- Insurance and Banking Subcommittee, 02/13/13, 9:00 am, 404 HOB
• CS by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 155
• Pending review of CS under Rule 7.19(c)
• Now in Government Operations Appropriations Subcommittee -HJ 151
• Introduced -HJ 31
• On Committee agenda-- Government Operations Appropriations Subcommittee, 03/07/13, 1:00 pm, Morris Hall
• CS by Insurance and Banking Subcommittee read 1st time -HJ 145
• Favorable by Government Operations Appropriations Subcommittee; YEAS 11 NAYS 0 -HJ 203
• Now in Regulatory Affairs Committee -HJ 203
• On Committee agenda-- Regulatory Affairs Committee, 03/14/13, 1:30 pm, 404 HOB
• Favorable by- Regulatory Affairs Committee; YEAS 15 NAYS 0 -HJ 248
• Placed on Calendar -HJ 248
• Placed on Special Order Calendar, 04/29/13
• Substituted CS/CS/SB 166 -HJ 942
• Laid on Table, companion bill(s) passed, see CS/CS/SB 166 (Ch. 2013-163) -HJ 942
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