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MI SB1103

Bill

Official Source

Status

Engrossed

9/19/2012

Primary Sponsor

Tonya Schuitmaker

Click for details

Origin

Senate

96th Legislature

AI Summary

  • Adds Section 2210a to the Insurance Code of 1956 (MCL 500.100 to 500.8302)
  • Establishes that a trustee of a trust has an insurable interest in the life of an individual as defined in Section 7114 of the Estates and Protected Individuals Code (1998 PA 386, MCL 700.7114)
  • Takes effect only if Senate Bill No. 1102 of the 96th Legislature is enacted into law (tie-bar provision)
  • Introduced April 26, 2012 by Senator Schuitmaker; passed Senate September 19, 2012

Legislative Description

Insurance; life; insurable interests; amend insurance code to provide for insurable interest of trustees. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 2210a. TIE BAR WITH: SB 1102'12

Insurance, life

Last Action

Referred To Committee On Insurance

9/19/2012

Committee Referrals

Insurance9/19/2012
Judiciary4/26/2012

Full Bill Text

No bill text available