2009 Senate Bill 646 (Regulate “life settlement contracts” and "stranger-originated life insurance” )

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Introduced by Sen. Alan Sanborn (R) on June 17, 2009, to impose new regulations on life insurance “life settlement contracts,” which are agreements in which compensation is paid for the assignment or sale of a life insurance policy’s benefits by its owner to another person. The bill would also impose new regulations on "stranger-originated life insurance" or "STOLIs," in which a policy is purchased for the benefit of a third party investor who, at the time of the policy’s origination, has no insurable interest in the life of the insured.
- Referred to the Senate Economic Development and Regulatory Reform Committee on June 17, 2009.

Most Recent Comments

1) Re: 2009 Senate Bill 646 (Regulate “life settlement contracts” and "stranger-originated life insurance” ) [by changeagent on June 23, 2009]

Why is it any business of the government who is the beneficiary on life insurance. They are so afraid someone might make some money they must stick their noses into everything. This is bad legislation and should not pass. Leave us alone!

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2) 2009 Senate Bill 646 (Regulate “life settlement contracts” and "stranger-originated life insurance” ) [by admin on January 1, 2001]
Introduced in the Senate on June 17, 2009

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