CS/CS/HB 445: Viatical Settlements
GENERAL BILL by Regulatory Affairs Committee ; Insurance and Banking Subcommittee ; Stevenson ; (CO-INTRODUCERS) Roberson ; Stark
Viatical Settlements; Revises provisions concerning viatical settlement providers; adds act that warrants imposition of administrative penalties against viatical settlement provider licensees; specifies procedures, authorized acts, & prohibited acts related to execution of viatical settlement contracts; provides criminal penalties for violation of such prohibitions; specifies authorized & prohibited acts by insurers related to viatical settlement providers; provides that certain agreements & transactions relating to stranger-originated life insurance practices are void & unenforceable.
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Bill History
Date Chamber Action 10/26/2015 House • Filed
11/5/2015 House • Referred to Insurance and Banking Subcommittee; Appropriations Committee; Regulatory Affairs Committee -HJ 39
1/11/2016 House • On Committee agenda-- Insurance and Banking Subcommittee, 01/13/16, 1:00 pm, Sumner Hall
1/12/2016 House • Introduced -HJ 39
1/13/2016 House • CS by Insurance and Banking Subcommittee; YEAS 10 NAYS 1 -HJ 242
1/19/2016 House • Pending review of CS under Rule 7.19(c)
1/20/2016 House • CS by Insurance and Banking Subcommittee read 1st time -HJ 236
1/21/2016 House • Now in Appropriations Committee -HJ 249
2/5/2016 House • On Committee agenda-- Appropriations Committee, 02/09/16, 3:00 pm, Webster Hall
2/10/2016 House • Favorable by Appropriations Committee; YEAS 22 NAYS 0 -HJ 436
• Now in Regulatory Affairs Committee -HJ 436
2/15/2016 House • On Committee agenda-- Regulatory Affairs Committee, 02/17/16, 9:30 am, Sumner Hall
2/17/2016 House • CS/CS by- Regulatory Affairs Committee; YEAS 14 NAYS 0 -HJ 507
2/18/2016 House • Pending review of CS -under Rule 7.19(c)
• CS/CS by Regulatory Affairs Committee read 1st time -HJ 504
2/19/2016 House • Placed on Calendar -HJ 517
3/11/2016 House • Died on Calendar
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CS/CS/HB 445, Committee Substitute 2 (Current Bill Version) Posted 2/18/2016 at 2:20 PM
Bill Text: PDF Analyses: None Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 650 (c1) Viatical Settlements Legg Similar Last Action: 3/11/2016 S Died in Appropriations Subcommittee on General Government
Location: In committee/council (AGG)
Citations - Statutes (13)
Citation Catchline Location in Bill Location In Bill Help 626.9911 Definitions. Page 3 (pdf) 626.9913 Viatical settlement provider license continuance; annual report; fees; deposit. Page 13 (pdf) 626.9914 Suspension, revocation, denial, or nonrenewal of viatical settlement provider license; grounds; administrative fine. Page 16 (pdf) 626.99175 Life expectancy providers; registration required; denial, suspension, revocation. Page 18 (pdf) 626.99185 Page 18 (pdf) 626.9924 Viatical settlement contracts; procedures; rescission. Page 20 (pdf) 626.99245 Conflict of regulation of viaticals. Page 20 (pdf) 626.99273 Page 21 (pdf) 626.99275 Prohibited practices; penalties. Page 22 (pdf) 626.99276 Page 24 (pdf) 626.99278 Viatical provider anti-fraud plan. Page 25 (pdf) 626.99287 Contestability of viaticated policies. Page 26 (pdf) 626.99289 Page 30 (pdf) -
CS/HB 445, Committee Substitute 1 Posted 1/19/2016 at 6:07 PM
Bill Text: PDF Analyses: Appropriations Committee (Post-Meeting) 2/10/2016 (pdf)
Regulatory Affairs Committee (Post-Meeting) 2/18/2016 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 650 (c1) Viatical Settlements Legg Similar Last Action: 3/11/2016 S Died in Appropriations Subcommittee on General Government
Location: In committee/council (AGG)
Committee Amendments (2)
Amendment Sponsor Filed Last Committee Action Format 006835 - Amendment
Remove line 394 and insert:Stevenson 2/16/2016
6:10 PMAdopted without Objection
2/17/2016PDF 304305 - Amendment
Remove lines 699-700 and insert:Stevenson 2/16/2016
6:11 PMAdopted without Objection
2/17/2016PDF Citations - Statutes (13)
Citation Catchline Location in Bill Location In Bill Help 626.9911 Definitions. Page 4 (pdf) 626.9913 Viatical settlement provider license continuance; annual report; fees; deposit. Page 13 (pdf) 626.9914 Suspension, revocation, denial, or nonrenewal of viatical settlement provider license; grounds; administrative fine. Page 16 (pdf) 626.99175 Life expectancy providers; registration required; denial, suspension, revocation. Page 18 (pdf) 626.99185 Page 18 (pdf) 626.9924 Viatical settlement contracts; procedures; rescission. Page 20 (pdf) 626.99245 Conflict of regulation of viaticals. Page 21 (pdf) 626.99273 Page 21 (pdf) 626.99275 Prohibited practices; penalties. Page 22 (pdf) 626.99276 Page 24 (pdf) 626.99278 Viatical provider anti-fraud plan. Page 25 (pdf) 626.99287 Contestability of viaticated policies. Page 27 (pdf) 626.99289 Page 30 (pdf) -
HB 445, Original Filed Version Posted 10/26/2015 at 4:29 PM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 1/19/2016 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 650 Viatical Settlements Legg Similar Last Action: 3/11/2016 S Died in Appropriations Subcommittee on General Government
Location: In committee/council (AGG)
Committee Amendments (1)
Amendment Sponsor Filed Last Committee Action Format 039889 - Amendment
Remove lines 248-704 and insert:Stevenson 1/12/2016
8:04 PMPDF Citations - Statutes (13)
Citation Catchline Location in Bill Location In Bill Help 626.9911 Definitions. Page 3 (pdf) 626.9913 Viatical settlement provider license continuance; annual report; fees; deposit. Page 13 (pdf) 626.9914 Suspension, revocation, denial, or nonrenewal of viatical settlement provider license; grounds; administrative fine. Page 16 (pdf) 626.99175 Life expectancy providers; registration required; denial, suspension, revocation. Page 17 (pdf) 626.99185 Page 18 (pdf) 626.9924 Viatical settlement contracts; procedures; rescission. Page 20 (pdf) 626.99245 Conflict of regulation of viaticals. Page 20 (pdf) 626.99273 Page 20 (pdf) 626.99275 Prohibited practices; penalties. Page 22 (pdf) 626.99276 Page 25 (pdf) 626.99278 Viatical provider anti-fraud plan. Page 26 (pdf) 626.99287 Contestability of viaticated policies. Page 28 (pdf) 626.99289 Page 28 (pdf)