SB 907 – Allows the Secretary of State to regulate the sale of variable annuities

• Sponsor: Engler
• LR Number: 4386S.01I
• Committee: Financial & Governmental Organizations and Elections
• Last Action: 3/13/2006 - Hearing Conducted S Financial & Governmental Organizations and Elections Committee
• Effective Date: August 28, 2006

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