summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation to increase maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association. Financial Services.
AI Summary
This bill proposes to increase the maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association from $100,000 to $500,000 and from $300,000 to $500,000 for certain annuity benefits. The purpose is to provide greater financial protection for individuals who hold annuity policies issued by insurance companies that become insolvent or are unable to meet their obligations.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Accompanied a study order, see H5160 (on 12/01/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H1106 |
| Bill | https://malegislature.gov/Bills/191/H1106.pdf |
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