2013 House Bill 5147 / 2014 Public Act 140

Revise life insurance regulation detail

Introduced in the House

Nov. 12, 2013

Introduced by Rep. Ken Goike (R-33)

To establish that a variable life insurance or annuity product approved by the U.S. Securities and Exchange Commission is by definition compliant with Michigan’s state law governing these products.

Referred to the Committee on Insurance

Dec. 10, 2013

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Jan. 23, 2014

Passed in the House 107 to 0 (details)

Received in the Senate

Jan. 28, 2014

Referred to the Committee on Insurance

March 5, 2014

Reported without amendment

With the recommendation that the bill pass.

May 20, 2014

Passed in the Senate 38 to 0 (details)

To establish that a variable life insurance or annuity product approved by the U.S. Securities and Exchange Commission is by definition compliant with Michigan’s state law governing these products.

Signed by Gov. Rick Snyder

June 3, 2014