Archived Bill Info

"SMITH, CHARLES C.", "VARALL"

An Act relating to and regulating savings bank life insurance; providing for the establishment and operation of life insurance departments by savings banks; authorizing certain savings banks to issue certain policies of life insurance and annuity contracts; requiring the reinsurance thereof with savings bank life insurance companies; authorizing savings banks to act as agents for other savings banks having life insurance departments and for savings bank life insurance companies; prohibiting the employment of solicitors of such life insurance and annuity contracts; providing for the investment and deposit of funds of life insurance departments of savings banks; making legal investments for savings banks having life insurance departments and for savings bank life insurance companies; prohibiting the employment of solicitors of such life insurance and annuity contracts; providing for the investment and deposit of funds of life insurance departments of savings banks; making legal investment for savings banks certificates evidencing advances to surplus of life insurance departments of savings banks and the capital stock obligations or other securities of savings bank life insurance companies; and imposing powers and duties on the Secretary of Banking and the Insurance Commissioner.

0318 White

Referred to the Committee on Judiciary Special, March 29.

Reported as committed, May 24.

Passed first reading, May 25.

Recommitted to the Committee on Judiciary Special, May 31.