2014 House Bill 5932 / Public Act 571

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Introduced in the House

Oct. 6, 2014

Introduced by Rep. Pete Lund (R-36)

To revise life insurance regulations to use a principal-based method to calculate the amount of reserves needed to cover future benefits.

Referred to the Committee on Insurance

In the Senate

Dec. 4, 2014

Reported without amendment

With the recommendation that the bill pass.

In the House

Dec. 9, 2014

Reported without amendment

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

Passed in the House 102 to 7 (details)

Received in the Senate

Dec. 10, 2014

Referred to the Committee on Insurance

Dec. 17, 2014

Passed in the Senate 37 to 0 (details)

To revise life insurance regulations to use a principal-based method to calculate the amount of reserves needed to cover future benefits.

Signed by Gov. Rick Snyder

Dec. 31, 2014