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GA HB689
Bill
Status
Introduced
1/18/2018
Primary Sponsor
Ricky Williams
Click for details
AI Summary
- Reduces the waiting period from 90 to 45 days before a financial institution may apply up to $10,000 from a deceased intestate depositor's account toward funeral expenses and last illness expenses, upon receipt of itemized statements and affidavits from service providers
- Authorizes life insurers to pay proceeds of up to $10,000 directly toward funeral expenses for a deceased intestate insured whose estate contains no real property, bypassing estate administration requirements
- Increases from $500 to $10,000 the maximum amount a group life insurance policy may authorize an insurer to pay to a person who incurred funeral or other expenses related to the death of an insured with no living designated beneficiary
- Adds a new group life insurance provision allowing insurers to pay up to $10,000 directly for funeral expenses when there is no designated beneficiary, upon receipt of itemized statements and provider affidavits, without requiring estate administration
- Payments made under these provisions fully discharge the insurer or financial institution from further liability to any heir, distributee, creditor, or other person
Legislative Description
Banking and finance; authorizing sums held for deceased intestate resident's application in payment of funeral expenses; change certain provisions
Last Action
House Withdrawn, Recommitted
2/23/2018
Full Bill Text
No bill text available