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GA HB1380
Bill
Status
Introduced
3/11/2010
Primary Sponsor
Mark Burkalter
Click for details
AI Summary
- Establishes that the state of Georgia, its political subdivisions (counties, municipalities, local school districts), and public retirement systems have an insurable interest in current employees and retired employees who are members of a public retirement system, under specified conditions
- Requires that premiums for such life insurance policies be paid entirely by the state, political subdivision, or public retirement system, and that the beneficiary of a portion of the proceeds be a designated public retirement system
- Policies must cover substantially all current employees, all retired employees who are retirement system members, or an identifiable group of either, and must be issued by a qualified insurer selected through a request-for-proposal or similar process
- Allows the state, political subdivisions, and public retirement systems to effectuate life insurance on employees and retired employees without obtaining the insured individual's prior written consent
- Grants any covered employee or retired employee the right to void the insurance policy as to themselves by submitting a written objection to the insurer within 10 days after the policy is delivered to the governmental entity or retirement system
Legislative Description
Insurance; insurable interest in retired employee; may void insurance; provisions
Last Action
House Second Readers
3/16/2010
Committee Referrals
Appropriations3/11/2010
Full Bill Text
No bill text available