HB 248 (BR 1092) - M. Denham
AN ACT relating to group life insurance.
Amend KRS 304.16-030 to allow payments for group life insurance to be paid entirely from funds contributed by insured employees; create a new section of Subtitle 16 of KRS Chapter 304 to establish new definitions for group coverage and discretionary groups; allow the commissioner to disapprove a proposed group if the group is not in the best interests of the public, would not result in economies of acquisition or administration, or the benefits of the policy are not reasonable in relation to the premiums charged; amend KRS 304.16-085 to define dependent to include children age 18 to 25 who meet certain requirements and an insured's mentally or physically handicapped child regardless of age; amend KRS 304.16-090 regarding credit union groups to clarify that payments for group life insurance may be paid either wholly from the credit union's funds or partly from the credit union's funds and partly from funds contributed by the insured members.
Jan 13-introduced in House
Jan 19-to Banking & Insurance (H)
Feb 1-posted in committee
Feb 3-reported favorably, 1st reading, to Calendar
Feb 4-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, February 5, 2010
Feb 24-3rd reading, passed 97-0
Feb 25-received in Senate
Mar 1-to Banking & Insurance (S)