Kentucky
General Assembly

Search

House Bill 135

Actions | Amendments
Last Action signed by Governor (Acts ch. 58)
Title AN ACT relating to unclaimed life insurance benefits.
Bill Documents Bill
Bill Request Number 487
Sponsors B. Damron, L. Clark, J. Crenshaw, A. Simpson, S. Westrom
Summary of Original Version Create a new section of Subtitle 15 of KRS Chapter 304 requiring insurers to compare in-force life insurance policies against the Death Master File to determine potential matches of their insureds; require escheat of policy proceeds after the expiration of the fee statutory time period only if no claim for the policy's proceeds has been made and if good faith efforts to contact the retained asset holder and any beneficiary are unsuccessful.
Index Headings of Original Version Insurance - Unclaimed life insurance benefits
Treasurer - Unclaimed life insurance benefits, escheat of
Wills and Estates - Unclaimed life insurance benefits, escheat of
Proposed Amendments House Committee Substitute 1
Senate Committee Substitute 1
Votes Vote History

Actions

Top | Amendments
12/16/11
  • Prefiled by the sponsor(s).
01/03/12
  • introduced in House
  • to Banking & Insurance (H)
01/17/12
  • posting waived
02/01/12
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute
02/02/12
  • 2nd reading, to Rules
  • posted for passage in the Consent Orders of the Day for Tuesday, February 7, 2012
02/07/12
  • taken from the Consent Orders of the Day, placed in the Regular Orders of the Day
  • 3rd reading, passed 96-0 with Committee Substitute
02/08/12
  • received in Senate
02/10/12
  • to Banking & Insurance (S)
02/28/12
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute
02/29/12
  • 2nd reading, to Rules
03/27/12
  • posted for passage in the Consent Orders of the Day for Tuesday, March 27, 2012
  • 3rd reading, passed 37-0 with Committee Substitute
03/28/12
  • received in House
  • to Rules (H)
03/29/12
  • posted for passage for concurrence in Senate Committee Substitute
  • House concurred in Senate Committee Substitute
  • passed 94-0
  • enrolled, signed by Speaker of the House
03/30/12
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/11/12
  • signed by Governor (Acts ch. 58)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Retain original provisions; exempt from the definition of "policy" life insurance policies used to fund a preneed funeral contract or prearrangement and policies issued to a creditor to insure the lives of debtors in connection with a specific loan or other credit transaction; EFFECTIVE January 1, 2013.
Index Headings Insurance - Unclaimed life insurance benefits
Treasurer - Unclaimed life insurance benefits, escheat of
Wills and Estates - Unclaimed life insurance benefits, escheat of

Amendment Senate Committee Substitute 1
Summary Keep original provisions but adds provisions to exempt life insurance policies provided under a governmental plan, a church plan, or an federal employee benefit plan.
Index Headings Insurance - Unclaimed life insurance benefits
Treasurer - Unclaimed life insurance benefits, escheat of
Wills and Estates - Unclaimed life insurance benefits, escheat of

Last updated: 8/27/2019 8:05 PM (EDT)