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Original
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Opposite
Chamber
1st
Reading
Referral
to Cmte
2nd
Reading
3rd
Reading
Review in
Original Chamber
Passed Both
Chambers
Conf. Cmte
(if necessary)
To Governor
Title
Insurance - Universal and Variable Life Insurance - Notice
Sponsored by
Chair, Finance Committee (By Request - Departmental - Maryland Insurance Administration)
Status
Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 527
Analysis
Fiscal and Policy Note (Revised)
Synopsis
Requiring certain insurers to send a written notice to policyholders of universal or variable life insurance if the policy contains a provision that allows the policyholder to reduce the face amount of the policy; requiring that the notice state that the policy allows for a reduction of the face amount as an option to retain coverage and a certain amount to be paid; and requiring that the notice be sent to the policyholder's last known address at the beginning of a certain grace period and at least 30 days before the termination of coverage.
Committees
Committee Testimony
Details
Bill File Type: Pre-Filed
Effective Date(s): January 1, 2021
By Request of the Governor
History
Legislation History
Chamber
Senate
Calendar Date
9/16/2019
Legislative Date
9/16/2019
Action
Pre-filed
Proceedings
Chamber
Senate
Calendar Date
1/08/2020
Legislative Date
1/08/2020
Action
First Reading Finance
Proceedings
Chamber
Senate
Calendar Date
12/19/2019
Legislative Date
12/19/2019
Action
Hearing 1/16 at 1:00 p.m.
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Text - First - Insurance - Universal and Variable Life Insurance - Notice
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Vote - Senate - Committee - Finance
Proceedings
Chamber
Senate
Calendar Date
1/23/2020
Legislative Date
1/23/2020
Action
Favorable with Amendments Report by Finance
Proceedings
Chamber
Senate
Calendar Date
1/24/2020
Legislative Date
1/24/2020
Action
Favorable with Amendments {517974/1 Adopted
Proceedings
13
Chamber
Senate
Calendar Date
1/24/2020
Legislative Date
1/24/2020
Action
Second Reading Passed with Amendments
Proceedings
13
Chamber
Calendar Date
Legislative Date
Action
Text - Third - Insurance - Universal and Variable Life Insurance - Notice
Proceedings
Chamber
Senate
Calendar Date
1/28/2020
Legislative Date
1/28/2020
Action
Third Reading Passed (46-0)
Proceedings
15
Chamber
House
Calendar Date
1/29/2020
Legislative Date
1/29/2020
Action
Referred Health and Government Operations
Proceedings
16
Chamber
House
Calendar Date
3/14/2020
Legislative Date
3/14/2020
Action
Hearing 3/17 at 1:00 p.m.
Proceedings
Chamber
House
Calendar Date
3/15/2020
Legislative Date
3/15/2020
Action
Hearing canceled
Proceedings
Chamber
House
Calendar Date
3/15/2020
Legislative Date
3/15/2020
Action
Hearing 3/16 at 11:00 a.m.
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Vote - House - Committee - Health and Government Operations
Proceedings
Chamber
House
Calendar Date
3/16/2020
Legislative Date
3/16/2020
Action
Favorable Report by Health and Government Operations
Proceedings
Chamber
House
Calendar Date
3/16/2020
Legislative Date
3/12/2020
Action
Favorable Adopted Second Reading Passed
Proceedings
49B
Chamber
House
Calendar Date
3/17/2020
Legislative Date
3/14/2020
Action
Third Reading Passed (134-0)
Proceedings
51A
Chamber
Senate
Calendar Date
3/18/2020
Legislative Date
3/15/2020
Action
Returned Passed
Proceedings
53C
Chamber
Post Passage
Calendar Date
5/08/2020
Legislative Date
5/08/2020
Action
Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 527
Proceedings
Chamber
Calendar Date
Legislative Date
Action
Text - Chapter - Insurance - Universal and Variable Life Insurance - Notice
Proceedings
Chamber Calendar Date Legislative Date Action Proceedings
Senate 9/16/2019 9/16/2019 Pre-filed
Senate 1/08/2020 1/08/2020 First Reading Finance
Senate 12/19/2019 12/19/2019 Hearing 1/16 at 1:00 p.m.
Text - First - Insurance - Universal and Variable Life Insurance - Notice
Vote - Senate - Committee - Finance
Senate 1/23/2020 1/23/2020 Favorable with Amendments Report by Finance
Senate 1/24/2020 1/24/2020 Favorable with Amendments {517974/1 Adopted 13
Senate 1/24/2020 1/24/2020 Second Reading Passed with Amendments 13
Text - Third - Insurance - Universal and Variable Life Insurance - Notice
Senate 1/28/2020 1/28/2020 Third Reading Passed (46-0) 15
House 1/29/2020 1/29/2020 Referred Health and Government Operations 16
House 3/14/2020 3/14/2020 Hearing 3/17 at 1:00 p.m.
House 3/15/2020 3/15/2020 Hearing canceled
House 3/15/2020 3/15/2020 Hearing 3/16 at 11:00 a.m.
Vote - House - Committee - Health and Government Operations
House 3/16/2020 3/16/2020 Favorable Report by Health and Government Operations
House 3/16/2020 3/12/2020 Favorable Adopted Second Reading Passed 49B
House 3/17/2020 3/14/2020 Third Reading Passed (134-0) 51A
Senate 3/18/2020 3/15/2020 Returned Passed 53C
Post Passage 5/08/2020 5/08/2020 Enacted under Article II, Section 17(c) of the Maryland Constitution - Chapter 527
Text - Chapter - Insurance - Universal and Variable Life Insurance - Notice
File Code
Subjects
Statutes
(   16-219 )
Last Updated: 7/8/2020 1:51 PM