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S 1389 111th Congress Senate Finance and Financial Sector Administrative law and regulatory procedures Contracts and agency Employee benefits and pensions Insurance industry and regulation Life, casualty, property insurance Securities Securities and Exchange Commission (SEC)

Fixed Indexed Annuities and Insurance Products Classification Act of 2009

Introduced: June 25, 2009 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 25, 2009
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jun 25, 2009
Introduced in Senate
 Plain-English summary Congressional Research Service

Fixed Indexed Annuities and Insurance Products Classification Act of 2009 - Amends the Securities Act of 1933 to include within the class of securities exempt from its coverage any insurance or endowment policy or annuity contract or optional annuity contract: (1) whose value does not vary according to the performance of a separate account; and (2) which satisfies standard nonforfeiture laws or similar requirements of the applicable state, Territory, or District of Columbia at time of issue or, in the absence of applicable standard nonforfeiture laws or requirements, satisfies the Model Standard Nonforfeiture Law for Life Insurance or Model Standard Nonforfeiture Law for Individual Deferred Annuities, or any successor model law, as published by the National Association of Insurance Commissioners.

Declares without force or effect Rule 151A promulgated by the Securities and Exchange Commission (SEC) on January 16, 2009, and entitled "Indexed Annuities and Certain Other Insurance Contracts."

What's happening now June 25, 2009

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2