North Carolina Moves Viatical Bill Forward

August 17, 2001 at 08:00 PM
Share & Print

NU Online News Service, Aug. 17, 2:59 p.m. – The North Carolina Senate Insurance and Consumer Protection Committee is pondering H.B. 359, a bill that would rewrite the state viatical settlements law to conform to a model law approved last year by the National Association of Insurance Commissioners, Kansas City, Mo.

The bill, cosponsored by Reps. Jerry C. Dockham, R-Raleigh, and John Hurley, D-Raleigh, would, among other things, require companies offering viatical settlements to file annual financial statements, disclose possible alternatives to viatical settlements and provide an unconditional refund provision.

The bill originated with the House Finance Committee. The House passed an amended version of the original bill Aug. 8.

More information about the bill is available on the North Carolina General Assembly Web site, at http://www.ncga.state.nc.us/gascripts/billnumber/billnumber.pl?Session=2001&BillID=h359

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Related Stories

Resource Center