ARTICLE 12. Unclaimed Life Insurance and Annuities Act [10509.940. - 10509.946.]

Article 12 added by Stats. 2019, Ch. 286, Sec. 1.

§§ 10509.940–10509.946 · 7 sections

• § 10509.940 This act shall be known and may be cited as the Unclaimed Life Insurance and Annuities Act.
• § 10509.941 The purpose of this article is to provide standards for: (a) Identifying a deceased individual whose death may require an insurer to pay benefits or proceeds…
• § 10509.942 For purposes of this article: (a) “Annuity contract” does not include an annuity used to fund an employment-based retirement plan or program if either of the…
• § 10509.943 (a) This article applies to an in-force policy, annuity contract, or retained asset account, a policy or annuity contract effective on or after July 1, 2020,…
• § 10509.944 (a) An insurer shall comply with the following requirements for performing a comparison of a policy, annuity contract, or retained asset account against the…
• § 10509.945 (a) Failure to meet a requirement of this article knowingly or with such frequency as to constitute a general practice is an unfair and deceptive act pursuant…
• § 10509.946 The provisions of this article are severable. If any provision of this article or its application is held invalid, that invalidity shall not affect other…