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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.