Introduced
by
To amend provisions of the state insurance code to update regulations on “suitability in annuity transactions” model legislation. This is part of a package comprised of House Bills 6112 to 6115, which update this law in the direction of placing “fiduciary” type standards on annuity sellers, meaning they must act in the best interest of the consumer, versus considering only whether an annuity or similar product is “suitable” for a person.
Referred to the Committee on Insurance
Reported without amendment
Refer to the Committee on Ways and Means with the recommendation that the substitute (H-1) be adopted.
Referred to the Committee on Ways and Means
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
