SB 0227

Life insurance beneficiary designations made after August 28 shall not be presumed revoked upon divorce

Sponsor:	Jacob
LR Number:	0969L.03T	Fiscal Note:	0969-03
Committee:	Insurance and Housing
Last Action:	07/10/01 - Signed by Governor		Journal page:
Title:	HCS SB 227
Effective Date:	August 28, 2001

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HCS/SB 227 - This act provides that the provision of law which holds that a beneficiary designation is revoked by a divorce shall not apply to life insurance policies and annuities sold by life insurance companies. This act also provides that the same provision of law does not apply to employee benefit plans governed by ERISA.

This act is exactly the same as SCS/HB 644 (2001).
STEPHEN WITTE