SB 907 Allows the Secretary of State to regulate the sale of variable annuities
Sponsor: Engler
LR Number: 4386S.01I Fiscal Note: 4386-01
Committee: Financial & Governmental Organizations and Elections
Last Action: 3/13/2006 - Hearing Conducted S Financial & Governmental Organizations and Elections Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2006

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Current Bill Summary


SB 907 - Under current law, the director of Insurance has the authority to regulate the issuance and sale of variable annuities. This act removes the director's authority to regulate the sale of such contracts and gives that authority to the Secretary of State.

This act is identical to HB 846 (2005).

CHRIS HOGERTY