Loading chat...

NC S574

Bill

Official Source

Status

Engrossed

5/10/2021

Primary Sponsor

Robert Steinburg

Click for details

Origin

Senate

2021-2022 Session

AI Summary

  • Adds new statute § 58-58-96 to North Carolina General Statutes allowing policy owners to change beneficiaries if the current beneficiary was selected through fraud or false pretenses
  • Prohibits life insurance companies in North Carolina from preventing owners from making beneficiary changes under fraudulent circumstances or false pretenses
  • Exception applies only to irrevocable beneficiaries, which cannot be changed under this provision
  • Effective upon enactment and applies to life insurance policies issued, renewed, or amended on or after the effective date

Legislative Description

Life Insurance Beneficiary Changes

Public

Last Action

Ref To Com On Rules, Calendar, and Operations of the House

5/10/2021

Committee Referrals

Rules, Calendar, and Operations of the House5/10/2021
Rules and Operations of the Senate5/4/2021
Commerce and Insurance4/27/2021
Judiciary4/13/2021
Rules and Operations of the Senate4/7/2021

Full Bill Text

No bill text available