SB 337 Allows insurers to depreciate the value of insured property by the cost expended to repair it
Sponsor: Wieland
LR Number: 1464S.01I Fiscal Notes
Committee: Insurance and Banking
Last Action: 2/2/2017 - Second Read and Referred S Insurance and Banking Committee Journal Page: S218
Title: Calendar Position:
Effective Date: August 28, 2017

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Current Bill Summary

SB 337 - This act provides that insurance policies may allow for a depreciation in subsequent value of insured property based on the amount of money paid under the policy to replace, repair, or rebuild it.