Loading chat...
IA SF2215
Bill
AI Summary
- Exempts contingent deferred annuities from subsections 2 through 7 of Iowa Code section 508.38, which establishes standard nonforfeiture requirements for individual deferred annuities
- Grants the Iowa Commissioner of Insurance 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 standard nonforfeiture law
- Amends existing exemptions in section 508.38 by reorganizing them into paragraph "a" while adding the new contingent deferred annuity provisions as paragraph "b"
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 SSB 3064.)
Last Action
Message from House. S.J. 573.
3/16/2026
Full Bill Text
No bill text available