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Glossary of Legislative Terms

CS/CS/SB 1600: Viatical Settlement Contracts

GENERAL BILL by Appropriations ; Banking and Insurance ; Young ; (CO-INTRODUCERS) Broxson

Viatical Settlement Contracts; Providing additional prohibited acts related to viatical settlement contracts; providing that a viatical settlement contract is void and unenforceable by either party if the viatical settlement policy is subject, within a specified timeframe, to a loan secured by an interest in the policy; providing that certain contracts, agreements, arrangements, or transactions relating to stranger-originated life insurance practices are void and unenforceable; authorizing a life insurer to contest policies obtained through such practices, etc.

Effective Date: Upon becoming a law
 Last Action: 5/5/2017 Senate - Died in Rules, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)
Bill Text: Web Page | PDF
Senate Committee References:
  1. Banking and Insurance (BI)
  2. Appropriations (AP)
  3. Rules (RC)

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  • Bill History

    Date Chamber Action
    3/3/2017 Senate • Filed
    3/14/2017 Senate • Referred to Banking and Insurance; Appropriations; Rules -SJ 206
    3/15/2017 Senate • Introduced -SJ 206
    3/22/2017 Senate • On Committee agenda-- Banking and Insurance, 03/27/17, 4:00 pm, 110 Senate Office Building
    3/27/2017 Senate • CS by Banking and Insurance; YEAS 8 NAYS 1 -SJ 257
    3/28/2017 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    3/29/2017 Senate • Now in Appropriations -SJ 257
    • CS by Banking and Insurance read 1st time -SJ 270
    4/17/2017 Senate • On Committee agenda-- Appropriations, 04/20/17, 10:00 am, 412 Knott Building
    4/20/2017 Senate • CS/CS by Appropriations; YEAS 17 NAYS 0 -SJ 442
    4/24/2017 Senate • Pending reference review under Rule 4.7(2) - (Committee Substitute)
    • Now in Rules -SJ 442
    4/25/2017 Senate • CS/CS by Appropriations read 1st time -SJ 451
    5/5/2017 Senate • Indefinitely postponed and withdrawn from consideration
    • Died in Rules, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178)

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  • CS/CS/SB 1600, Committee Substitute 2 (Current Bill Version) Posted 4/24/2017 at 8:36 AM

    Bill Text:   Web Page | PDF
    Analyses:   None

    Related Bills (3)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1205 (e1) Viatical Settlement Contracts Stevenson Similar Last Action: 5/5/2017 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178) Track This Bill
    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) Track This Bill
    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 Track This Bill

    Citations - Statutes (8)

    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 6 (pdf)
    626.99275 Prohibited practices; penalties. Page 6 (pdf)
    626.99287 Contestability of viaticated policies. Page 7 (pdf)
    626.99289 Page 10 (pdf)
    626.99291 Page 11 (pdf)
    626.99292 Page 11 (pdf)

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  • CS/SB 1600, Committee Substitute 1 Posted 3/28/2017 at 1:11 PM

    Bill Text:   Web Page | PDF
    Analyses:   Appropriations (Pre-Meeting) 4/19/2017 (pdf)
    Appropriations (Post-Meeting) 4/23/2017 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1205 (c1) Viatical Settlement Contracts Stevenson Similar Last Action: 5/5/2017 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178) Track This Bill

    Committee Amendments (4)

    Amendment Sponsor Filed Last Committee Action Format
    164220 - Amendment
    Delete line 109 and insert:     		Appropriations
    (Young)     		4/19/2017
    9:48 AM     		Replaced by Committee Substitute
    4/20/2017     		Web Page
    PDF
    885964 - Amendment
    Delete lines 177 - 179 and insert:     		Appropriations
    (Young)     		4/19/2017
    9:50 AM     		Replaced by Committee Substitute
    4/20/2017     		Web Page
    PDF
    549508 - Amendment
    Delete lines 190 - 256 and insert:     		Appropriations
    (Young)     		4/19/2017
    9:51 AM     		Replaced by Committee Substitute
    4/20/2017     		Web Page
    PDF
    322168 - Amendment
    Between lines 282 and 283 insert:     		Appropriations
    (Young)     		4/19/2017
    9:49 AM     		Replaced by Committee Substitute
    4/20/2017     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    4/20/2017 10:00 AM Appropriations 17 Yeas - 0 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 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)
    626.99290 Page 10 (pdf)

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  • SB 1600, Original Filed Version Posted 3/3/2017 at 10:47 AM

    Bill Text:   Web Page | PDF
    Analyses:   Banking and Insurance (Pre-Meeting) 3/24/2017 (pdf)
    Banking and Insurance (Post-Meeting) 3/28/2017 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    H 1205 Viatical Settlement Contracts Stevenson Similar Last Action: 5/5/2017 S Died in Banking and Insurance, companion bill(s) passed, see CS/CS/CS/HB 1007 (Ch. 2017-178) Track This Bill

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    767012 - Amendment (Delete All)
    Delete everything after the enacting clause and insert:     		Banking and Insurance
    (Young)     		3/24/2017
    2:34 PM     		Replaced by Committee Substitute
    3/27/2017     		Web Page
    PDF
    hierarchy 420836 - Amendment to Amendment (767012)
    Delete line 260 and insert:     		Banking and Insurance
    (Farmer)     		3/27/2017
    1:36 PM     		Withdrawn
    3/27/2017     		Web Page
    PDF

    Committee Votes (1)

    Date Committee Result
    3/27/2017 4:00 PM Banking and Insurance 8 Yeas - 1 Nays

    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 4 (pdf)
    626.99245 Conflict of regulation of viaticals. Page 4 (pdf)
    626.99275 Prohibited practices; penalties. Page 5 (pdf)
    626.99287 Contestability of viaticated policies. Page 6 (pdf)
    626.99289 Page 9 (pdf)

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