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OK HB2671

Bill

Official Source

Status

Passed

5/10/2010

Primary Sponsor

Randy McDaniel

Click for details

Origin

House of Representatives

2010 Regular Session

AI Summary

  • Increases maximum age limit for mutual benefit association benefit certificates from 65 to 72 years old
  • Raises age limit for graded membership certificates from 65 to 72 years old
  • Changes premium rate requirements for policies covering individuals over age 72 (previously age 55) to use American Experience Table of Mortality with 3.5% interest plus 10%
  • Allows emergency fund assessments to become part of general association funds if proper records are maintained
  • Becomes effective November 1, 2010

Legislative Description

Insurance; increasing maximum age of a person to whom a benefit certificate may be issued; increasing age limit for the issuance of certain graded membership certificate. Effective date.

Aging

Last Action

Approved by Governor 05/06/2010

5/10/2010

Committee Referrals

Economic Development and Financial Services2/22/2010
Rules2/2/2010

Full Bill Text

No bill text available