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Senate Bill 220

Enrolled Senate Bill (S)

Authored by

Co-Authored by

Sponsored by

  • The portrait of Sen. Travis Holdman
    Sen. Travis Holdman

    Author

  • The portrait of Sen. Greg Walker
    Sen. Greg Walker

    Author

  • The portrait of Sen. Frank Mrvan
    Sen. Frank Mrvan

    Co-Author

  • The portrait of Sen. Lonnie Randolph
    Sen. Lonnie Randolph

    Co-Author

  • The portrait of Rep. Matthew Lehman
    Rep. Matthew Lehman

    Sponsor

  • The portrait of Rep. Martin Carbaugh
    Rep. Martin Carbaugh

    Sponsor

DIGEST

Unclaimed life insurance benefits. Requires an insurer to perform periodic comparison of certain in-force life insurance policies, annuities, and retained asset accounts against a death master file. Requires an insurer to confirm the possible death of an insured, annuitant, or account owner and determine the benefits due. Provides that if the person to whom the benefits are due is not found, the benefits escheat to the state under the unclaimed property law. Makes an insurer's noncompliance an unfair or deceptive act or practice in the business of insurance. Unclaimed life insurance benefits. Requires an insurer to perform periodic comparison of certain in-force life insurance policies, annuities, and retained asset accounts against a death master file. Requires an insurer to confirm the possible death of an insured, annuitant, or account owner and determine the benefits due. Provides that if the person to whom the benefits are due is not found, the benefits escheat to the state under the unclaimed property law. Makes an insurer's noncompliance an unfair or deceptive act or practice in the business of insurance.