HB192 Alabama 2013 Session

Updated Jul 24, 2021

House Bill

Enacted

Current Status

Regular Session 2013

Session

Sponsor

Summary

Primary Sponsor: Greg Wren
Republican
Session: Regular Session 2013
Title: Insurance, life, annuity contracts, retained asset accounts, death master file, search further provided for, Secs. 27-15-51, 27-15-52, 27-15-53 am'd.; Act 2012-424, 2012 Reg. Sess., am'd.
Description: Under existing law, certain insurers are required to search the death master file and notify the State Treasurer of any unclaimed life insurance benefits or unclaimed retained asset accounts, plus interest, to the State Treasurer.
This bill would provide that the requirement that certain insurers search the death master file shall apply only to life insurance policies, annuity contracts, and retained asset accounts issued and delivered in this state and which are issued or entered into on or after January 1, 2016.
This bill would require each insurer who has in-force life insurance policies, annuity contracts, and retained asset accounts to compare those items against a death master file to identify potential death master file matches of its insureds commencing by July 1, 2016, and completed by January 1, 2019.
Subjects: Insurance