Bill > HB1058

This bill amends Georgia law to allow tax-exempt organizations, specifically those qualifying under Section 501(c)(3) of the Internal Revenue Code, to be named as beneficiaries in employee group life insurance policies, provided the insured employee designates them in writing. Previously, group life insurance policies were generally intended for the benefit of individuals other than the employer, but this change creates an exception for these specific types of charitable organizations. The bill also makes minor technical changes, such as clarifying that an individual proprietor or partner must be actively engaged in the business to be eligible for insurance and changing the word "must" to "shall" in certain provisions related to policy requirements, which generally strengthens the mandatory nature of those requirements.

Business and Industry

https://www.legis.ga.gov/legislation/72509