Download Zipped Introduced WordPerfect SB0186.ZIP
[Status][Bill Documents][Fiscal Note][Bills Directory]

S.B. 186

             1     

REVOCATION OF DEATH BENEFITS BY

             2     
DIVORCE

             3     
2006 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Karen Hale

             6     
House Sponsor: Lorie D. Fowlke

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill repeals a section that duplicates the intent of another section of the code.
             11      Highlighted Provisions:
             12          This bill:
             13          .    repeals a duplicate section dealing with revocation of revocable beneficiary
             14      designations when parties divorce; and
             15          .    makes technical changes.
             16      Monies Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          None
             20      Utah Code Sections Affected:
             21      AMENDS:
             22          31A-22-413, as last amended by Chapter 369, Laws of Utah 1999
             23      REPEALS:
             24          30-3-7.5, as enacted by Chapter 369, Laws of Utah 1999
             25     
             26      Be it enacted by the Legislature of the state of Utah:
             27          Section 1. Section 31A-22-413 is amended to read:


             28           31A-22-413. Designation of beneficiary.
             29          (1) Subject to Subsection 31A-22-412 (2), no life insurance policy or annuity contract
             30      may restrict the right of a policyholder or certificate holder:
             31          (a) to make an irrevocable designation of beneficiary effective immediately or at some
             32      subsequent time; or
             33          (b) if the designation of beneficiary is not explicitly irrevocable, to change the
             34      beneficiary without the consent of the previously designated beneficiary. Subsection
             35      75-6-201 (1)(c) applies to designations by will or by separate writing.
             36          (2) An insurer may prescribe formalities to be complied with for the change of
             37      beneficiaries, but those formalities may only be designed for the protection of the insurer. The
             38      insurer discharges its obligation under the insurance policy or certificate of insurance if it pays
             39      the properly designated beneficiary unless it has actual notice of either an assignment or a
             40      change in beneficiary designation made pursuant to Subsection (1)(b) or Section [ 30-3-7.5 ]
             41      75-2-804 . The insurer has actual notice if the formalities prescribed by the policy are complied
             42      with, or if the change in beneficiary has been requested in the form prescribed by the insurer
             43      and delivered to an agent representing the insurer at least three days prior to payment to the
             44      earlier properly designated beneficiary.
             45          Section 2. Repealer.
             46          This bill repeals:
             47          Section 30-3-7.5, Revocation of death benefits by divorce or annulment.




Legislative Review Note
    as of 1-18-06 11:25 AM


Based on a limited legal review, this legislation has not been determined to have a high
probability of being held unconstitutional.

Office of Legislative Research and General Counsel


[Bill Documents][Bills Directory]