Section 376.2050 – Citation of act.
Effective – 28 Aug 2016 376.2050. Citation of act. — Sections 376.2050 to 376.2053 shall be known and may be cited as the “Unclaimed Life Insurance Benefits Act”. ——– (L. 2016 H.B. 2150)
Section 376.2051 – Definitions.
Effective – 28 Aug 2016 376.2051. Definitions. — As used in sections 376.2050 to 376.2053, the following terms mean: (1) “Asymmetric conduct”, an insurer’s use of the death master file prior to January 1, 2018, in connection with searching for information regarding whether annuitants under the insurer’s contracts might be deceased, but not in connection […]
Section 376.2052 – Comparison of in-force policies to death master file — violation deemed an unfair trade practice.
Effective – 28 Aug 2016 376.2052. Comparison of in-force policies to death master file — violation deemed an unfair trade practice. — 1. An insurer shall perform a comparison of its in-force life insurance policies, contracts, and retained asset accounts against a death master file on at least a semiannual basis by using the full […]
Section 376.2053 – Exemption from requirements, when.
Effective – 28 Aug 2016 376.2053. Exemption from requirements, when. — An insurer that has not engaged in any asymmetric conduct prior to January 1, 2018, shall not be required to comply with the requirements of sections 376.2050 to 376.2053 with respect to any policies, contracts, or retained asset accounts that are issued and delivered […]