2011 Senate Bill 467 / 2012 Public Act 544

Impose new regulations on selling "replacement annuities"

Introduced in the Senate

June 15, 2011

Introduced by Sen. Rick Jones (R-24)

To impose new regulations and procedures on the sale and marketing of replacement annuities.

Referred to the Committee on Families, Seniors, and Human Services

Nov. 1, 2011

Reported without amendment

With the recommendation that the substitute (S-2) be adopted and that the bill then pass.

Substitute offered

Impose new regulations and procedures on the sale and marketing of replacement annuities.

The substitute passed by voice vote

Nov. 2, 2011

Passed in the Senate 37 to 0 (details)

Received in the House

Nov. 2, 2011

Referred to the Committee on Families, Children and Seniors

Dec. 4, 2012

Reported without amendment

With the recommendation that the amendment be adopted and that the bill then pass.

Dec. 11, 2012

Amendment offered

To establish a new date on which the bill will go into effect if passed.

The amendment passed by voice vote

Amendment offered by Rep. Richard Hammel (D-48)

To tie-bar the bill to House Bill 5361, meaning this bill cannot become law unless that one does also. HB 5361 would establish comprehensive ethics standards and conflict of interest regulations for executive branch officials and employees.

The amendment failed by voice vote

Amendment offered by Rep. Tim Greimel (D-29)

To tie-bar the bill to House Bill 4461, meaning this bill cannot become law unless that one does also. HB 4461 would require politicians to file personal financial disclosure statements.

The amendment failed by voice vote

Dec. 12, 2012

Passed in the House 109 to 0 (details)

To impose new regulations and procedures on the sale and marketing of replacement annuities.

Received in the Senate

Dec. 13, 2012

Passed in the Senate 38 to 0 (details)

To concur with the House-passed version of the bill.

Signed by Gov. Rick Snyder

Dec. 31, 2012