2019 House Bill 5241 / 2020 Public Act 15

Revise insurance regulation detail

Introduced in the House

Nov. 13, 2019

Introduced by Rep. Daire Rendon (R-103)

To delete a state insurance code exemption for some insurers from certain “valuation manual” requirements related to pricing life insurance policies. This refers to a method used to set policy claim reserve-fund levels using as specified in the manual of valuation instructions.

Referred to the Committee on Insurance

Dec. 3, 2019

Reported without amendment

Refer to the Committee on Ways and Means.

Referred to the Committee on Ways and Means

Dec. 4, 2019

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Passed in the House 103 to 2 (details)

Received in the Senate

Dec. 5, 2019

Referred to the Committee on Insurance and Banking

Jan. 9, 2020

Reported without amendment

With the recommendation that the bill pass.

Jan. 15, 2020

Passed in the Senate 36 to 0 (details)

To delete a state insurance code exemption for some insurers from certain “valuation manual” requirements related to pricing life insurance policies. This refers to a method used to set policy claim reserve-fund levels using as specified in the manual of valuation instructions.

Signed by Gov. Gretchen Whitmer

Jan. 27, 2020