Legislative Session number- 86

Bill Name: SF2825

2E Relating to commerce

ARTICLE 1 - LIFE INSURANCE

Modifying continuing
education provisions; amending insurance laws involving insurance company
rehabilitation and liquidation, group life insurance, the nonforfeiture law for
individual deferred annuities and use of mortality tables, the life and health
insurance guarantee association and mutual insurance companies

ARTICLE 2 -
FRATERNAL BENEFIT SOCIETIES

Regulating fraternal benefit societies risk-based
capital; defining
certain terms; requiring risk-based capital reports to the
commissioner of
commerce; defining and prescribing certain actions concerning
fraternal action level events and fraternal authorized control events;
specifying right to contested case hearings under certain conditions;
prohibiting publicly
announcing information relating to the risk-based capital
levels; specifying
certain immunity for the commerce department; requiring the
commissioner to give certain notice to a society facing regulatory
action
(me)