CS/HB 1205: Viatical Settlement Contracts
GENERAL BILL by Insurance and Banking Subcommittee ; Stevenson
Viatical Settlement Contracts; Provides additional prohibited acts related to viatical settlement contracts; revises conditions & requirements in which viatical settlement contracts entered into within a specified period are valid; provides specified acts & transactions relating to stranger-originated life insurance practices are void & enforceable; authorizes challenges to policies obtained through such practices.
Effective Date: upon becoming a law
Last Action: 5/5/2017 Senate - Died in Banking and Insurance, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)
Bill Text: PDF
Last Action: 5/5/2017 Senate - Died in Banking and Insurance, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)
Bill Text: PDF
Senate Committee References:
- Banking and Insurance (BI)
- Appropriations (AP)
- Rules (RC)
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Bill History
Date Chamber Action 3/2/2017 House • Filed
3/6/2017 House • Referred to Insurance and Banking Subcommittee; Civil Justice and Claims Subcommittee; Commerce Committee -HJ 127
3/7/2017 House • Introduced -HJ 127
3/23/2017 House • PCS on Committee agenda-- Insurance and Banking Subcommittee, 03/27/17, 12:30 pm, Sumner Hall
3/27/2017 House • CS by Insurance and Banking Subcommittee; YEAS 11 NAYS 0 -HJ 522
3/30/2017 House • Pending review of CS under Rule 7.18(c)
• CS by Insurance and Banking Subcommittee read 1st time -HJ 517
3/31/2017 House • Original reference(s) removed: Civil Justice and Claims Subcommittee
• CS referred to Commerce Committee -HJ 528
• Now in Commerce Committee -HJ 528
4/4/2017 House • On Committee agenda-- Commerce Committee, 04/06/17, 1:30 pm, Webster Hall
4/6/2017 House • Favorable by- Commerce Committee; YEAS 17 NAYS 4 -HJ 602
• Placed on Calendar -HJ 602
4/13/2017 House • Placed on Special Order Calendar, 04/18/17
4/18/2017 House • Placed on Special Order Calendar, 04/19/17
4/19/2017 House • Temporarily postponed, on 2nd Reading -HJ 744
4/20/2017 House • Placed on Special Order Calendar, 04/25/17
4/25/2017 House • Read 2nd time -HJ 831
• Amendment(s) adopted (063463, 896111) -HJ 831, 832
• Placed on 3rd reading
4/26/2017 House • Read 3rd time -HJ 873
• CS passed as amended; YEAS 116 NAYS 1 -HJ 873
4/26/2017 Senate • In Messages
• Referred to Banking and Insurance; Appropriations; Rules -SJ 493
• Received -SJ 493
5/5/2017 Senate • Indefinitely postponed and withdrawn from consideration
• Died in Banking and Insurance, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)
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CS/HB 1205, Engrossed 1 (Current Bill Version) Posted 4/25/2017 at 5:02 PM
Bill Text: PDF Analyses: None Related Bills (3)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1600 (c2) Viatical Settlement Contracts Young Similar Last Action: 5/5/2017 S Died in Rules, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178) 
H 1007 (er) Prohibited Insurance Acts Raschein Compare Last Action: 6/27/2017 Chapter No. 2017-178, companion bill(s) passed, see CS/HB 1009 (Ch. 2017-179)
S 1012 (c2) Insurance Fraud Brandes Compare Last Action: 5/5/2017 S Laid on Table, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178), CS/HB 1009 (Ch. 2017-179) -SJ 944
Floor Votes (1)
Date Chamber Result 4/26/2017 2:08 PM House 116 Yeas - 1 Nays Citations - Statutes (7)
Citation Catchline Location in Bill Location In Bill Help 626.9911 Definitions. Page 2 (pdf) 626.9924 Viatical settlement contracts; procedures; rescission. Page 6 (pdf) 626.99245 Conflict of regulation of viaticals. Page 6 (pdf) 626.99275 Prohibited practices; penalties. Page 7 (pdf) 626.99287 Contestability of viaticated policies. Page 8 (pdf) 626.99289 Page 11 (pdf) 626.99290 Page 12 (pdf) -
CS/HB 1205, Committee Substitute 1 Posted 3/30/2017 at 8:59 AM
Bill Text: PDF Analyses: Commerce Committee (Post-Meeting) 4/6/2017 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1600 (c2) Viatical Settlement Contracts Young Similar Last Action: 5/5/2017 S Died in Rules, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)
Floor Amendments (6)
Amendment Sponsor Filed Last Floor Action Format 312437 - Amendment
Remove line 107 and insert:Stevenson 4/14/2017
3:36 PMHouse: Withdrawn
4/21/2017PDF 896111 - Amendment
Remove lines 175-178 and insert:Stevenson 4/14/2017
3:36 PMHouse: Adopted
4/25/2017PDF 257657 - Amendment
Remove lines 188-207 and insert:Stevenson 4/14/2017
3:36 PMHouse: Withdrawn
4/21/2017PDF 
151081 - Amendment to Amendment (257657)
Remove line 31 of the amendment and insert:Stevenson 4/14/2017
6:58 PMHouse: Withdrawn
4/21/2017PDF 063463 - Amendment
Remove lines 188-254 and insert:Stevenson 4/21/2017
3:43 PMHouse: Adopted
4/25/2017PDF 860845 - Amendment
Between lines 280 and 281, insert:Stevenson 4/14/2017
3:38 PMHouse: Withdrawn
4/21/2017PDF Citations - Statutes (7)
Citation Catchline Location in Bill Location In Bill Help 626.9911 Definitions. Page 2 (pdf) 626.9924 Viatical settlement contracts; procedures; rescission. Page 6 (pdf) 626.99245 Conflict of regulation of viaticals. Page 6 (pdf) 626.99275 Prohibited practices; penalties. Page 7 (pdf) 626.99287 Contestability of viaticated policies. Page 8 (pdf) 626.99289 Page 11 (pdf) 626.99290 Page 12 (pdf) -
HB 1205, Original Filed Version Posted 3/2/2017 at 5:04 PM
Bill Text: PDF Analyses: Insurance and Banking Subcommittee (Post-Meeting) 3/30/2017 (pdf)
Related Bills (1)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 1600 (c1) Viatical Settlement Contracts Young Similar Last Action: 5/5/2017 S Died in Rules, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)
Citations - Statutes (6)
Citation Catchline Location in Bill Location In Bill Help 626.9911 Definitions. Page 2 (pdf) 626.9924 Viatical settlement contracts; procedures; rescission. Page 5 (pdf) 626.99245 Conflict of regulation of viaticals. Page 5 (pdf) 626.99275 Prohibited practices; penalties. Page 6 (pdf) 626.99287 Contestability of viaticated policies. Page 7 (pdf) 626.99289 Page 10 (pdf)