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CS/HB 167: Annuities

GENERAL BILL by Insurance and Banking Subcommittee ; Broxson ; (CO-INTRODUCERS) Fasano

Annuities; Provides that recommendations relating to annuities made by insurer or its agents apply to all consumers not just senior consumers; revises & provides definitions; revises duties of insurers & agents; provides that recommendations must be based on consumer suitability information; revises information relating to annuities that must be provided by insurer or its agent to consumer; revises requirements for monitoring contractors that provide certain functions for insurer relating to insurer's system for supervising recommendations; revises provisions relating to relationship between act & federal Financial Industry Regulatory Authority; prohibits specified charges for annuities issued to persons 65 years of age or older; increases period that unconditional refund must remain available with respect to certain annuity contracts; makes such unconditional refunds available to all prospective annuity contract buyers without regard to buyer's age; revises requirements for cover pages of annuity contracts.

Effective Date: 10/1/2013
 Last Action: 4/29/2013 House - Laid on Table, companion bill(s) passed, see CS/CS/SB 166 (Ch. 2013-163) -HJ 942
Bill Text: PDF

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  • Bill History

    Date Chamber Action
    1/14/2013 House • Filed
    1/23/2013 House • Referred to Insurance and Banking Subcommittee; Government Operations Appropriations Subcommittee; Regulatory Affairs Committee -HJ 31
    2/6/2013 House • On Committee agenda-- Insurance and Banking Subcommittee, 02/13/13, 9:00 am, 404 HOB
    2/13/2013 House • CS by Insurance and Banking Subcommittee; YEAS 13 NAYS 0 -HJ 155
    2/19/2013 House • Pending review of CS under Rule 7.19(c)
    2/21/2013 House • Now in Government Operations Appropriations Subcommittee -HJ 151
    3/5/2013 House • Introduced -HJ 31
    • On Committee agenda-- Government Operations Appropriations Subcommittee, 03/07/13, 1:00 pm, Morris Hall
    • CS by Insurance and Banking Subcommittee read 1st time -HJ 145
    3/7/2013 House • Favorable by Government Operations Appropriations Subcommittee; YEAS 11 NAYS 0 -HJ 203
    • Now in Regulatory Affairs Committee -HJ 203
    3/12/2013 House • On Committee agenda-- Regulatory Affairs Committee, 03/14/13, 1:30 pm, 404 HOB
    3/14/2013 House • Favorable by- Regulatory Affairs Committee; YEAS 15 NAYS 0 -HJ 248
    • Placed on Calendar -HJ 248
    4/26/2013 House • Placed on Special Order Calendar, 04/29/13
    4/29/2013 House • Substituted CS/CS/SB 166 -HJ 942
    • Laid on Table, companion bill(s) passed, see CS/CS/SB 166 (Ch. 2013-163) -HJ 942

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  • CS/HB 167, Committee Substitute 1 (Current Bill Version) Posted 2/19/2013 at 12:34 PM

    Bill Text:   PDF
    Analyses:   Government Operations Appropriations Subcommittee (Post-Meeting) 3/7/2013 (pdf)
    Regulatory Affairs Committee (Post-Meeting) 3/14/2013 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 166 (er) Annuities Richter Similar Last Action: 6/17/2013 Chapter No. 2013-163
    Location: Became Law     		Track This Bill

    Citations - Statutes (2)

    Citation Catchline Location in Bill Location In Bill Help
    626.99 Life insurance solicitation. Page 13 (pdf)
    627.4554 Annuity investments by seniors. Page 2 (pdf)

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  • HB 167, Original Filed Version Posted 1/14/2013 at 3:33 PM

    Bill Text:   PDF
    Analyses:   Insurance and Banking Subcommittee (Post-Meeting) 7/10/2013 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 166 (c1) Annuities Richter Similar Last Action: 6/17/2013 Chapter No. 2013-163
    Location: Became Law     		Track This Bill

    Committee Amendments (7)

    Amendment Sponsor Filed Last Committee Action Format
    534457 - Amendment
    Remove lines 17-18 and insert:     		Broxson 2/12/2013
    2:15 PM     		Adopted without Objection
    2/25/2013     		PDF
    791359 - Amendment
    Remove lines 157-158 and insert:     		Broxson 2/12/2013
    2:16 PM     		Adopted without Objection
    2/25/2013     		PDF
    761815 - Amendment
    Remove line 199 and insert:     		Broxson 2/12/2013
    2:16 PM     		Adopted without Objection
    2/25/2013     		PDF
    845709 - Amendment
    Remove line 319 and insert:     		Broxson 2/12/2013
    2:17 PM     		Adopted without Objection
    2/25/2013     		PDF
    872695 - Amendment
    Remove line 344 and insert:     		Broxson 2/12/2013
    4:58 PM     		Adopted without Objection
    2/25/2013     		PDF
    036261 - Amendment
    Remove lines 394-401 and insert:     		Broxson 2/12/2013
    2:25 PM     		Adopted without Objection
    2/25/2013     		PDF
    hierarchy 255767 - Amendment to Amendment (036261)
    Remove line 16 of the amendment and insert:     		Broxson 2/13/2013
    12:54 PM     		Adopted without Objection
    2/25/2013     		PDF

    Citations - Statutes (2)

    Citation Catchline Location in Bill Location In Bill Help
    626.99 Life insurance solicitation. Page 13 (pdf)
    627.4554 Annuity investments by seniors. Page 2 (pdf)

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