Loading chat...

IA HF2184

Bill

Official Source

Status

Introduced

1/28/2026

Primary Sponsor

Commerce

Click for details

Origin

House of Representatives

91st General Assembly

AI Summary

  • Amends Iowa Code section 508.38 to exempt contingent deferred annuities from standard nonforfeiture law requirements in subsections 2 through 7
  • Grants the Insurance Commissioner authority to prescribe nonforfeiture benefits for contingent deferred annuities through administrative rulemaking under Chapter 17A
  • Requires any commissioner-prescribed nonforfeiture benefits to be equitable to policyholders, appropriate for the risks insured, and consistent with the general intent of the existing nonforfeiture statute
  • Maintains existing exemptions for reinsurance, group annuities under retirement plans, premium deposit funds, variable annuities, investment annuities, immediate annuities, and contracts delivered outside Iowa

Legislative Description

A bill for an act relating to the applicability of the standard nonforfeiture law for individual deferred annuities to contingent deferred annuities.(Formerly HSB 525.)

Last Action

Withdrawn. H.J. 666.

3/12/2026

Full Bill Text

No bill text available