SB599 SFAT Romano 3-2

Baker 7816

Senator Romano moved to amend the bill by striking out the title and substituting therefor a new title, to read as follows:

Eng. Com. Sub. for Senate Bill 599--A Bill to amend and reenact §36-8-2 of the Code of West Virginia, 1931, as amended, relating generally to Uniform Unclaimed Property Act; clarifying that presumed abandoned property in the form of amounts owed by an insurer on a life or endowment insurance policy or an annuity that has matured or terminated, and obligations related thereto, are guided by policies, requirements and interpretations of the Insurance Commissioner; and requiring those policies, requirements and interpretations to include standards regarding an annual search of the United States Social Security Administration’s Death Master File or similar service.

Adopted

Rejected