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NJ S2948
Bill
Status
Engrossed
2/25/2025
Primary Sponsor
Troy Singleton
Click for details
AI Summary
- Requires insurers to disburse annuity funds within 10 business days of receiving an owner's surrender request
- Grants annuity owners 90 calendar days from the maturity date to submit annuitization requests for annuities with automatic renewal provisions
- Mandates that annuities include options for electronic fund disbursement and acceptance of signature guarantees from state or federally chartered banks for surrender/annuitization requests
- Requires insurers to continue crediting interest on annuities after receiving surrender or annuitization requests until funds are disbursed
- Obligates insurers to provide owners with a phone number and email address of a representative to check request status; bill takes effect 90 days after enactment
Legislative Description
Provides that only registered design professionals or employees with certified fire escape contractors are authorized to install, service, repair, inspect, and maintain fire escapes.
Housing
Last Action
Received in the Assembly, Referred to Assembly Housing Committee
2/25/2025
Committee Referrals
Housing2/25/2025
Community and Urban Affairs3/11/2024
Full Bill Text
No bill text available