| HB 0644 (Truly Agreed) | Life insurance beneficiary designations made after August 28 shall not be presumed revoked upon divorce |
SCS/HB 644 - This act provides that the provision of law which holds that a beneficiary designation is revoked by a divorce shall not apply to life insurance policies and annuities sold by life insurance companies. This act also provides that the same provision of law does not apply to employee benefit plans governed by ERISA.
This act is the same as HCS/SB 227 (2001).
STEPHEN WITTE