HB 1374 -- NOTIFICATION OF LOAN INTEREST DUE

This bill requires an insurer to notify a policyholder annually
of interest due on a loan taken against a policy.

HB 1374 -- NOTIFICATION OF LOAN INTEREST DUE (Scheve)

This bill requires an insurer to notify a policyholder annually
of interest due on a loan made against a policy.

FISCAL NOTE:  No impact on state funds.

HB 1374 -- NOTIFICATION OF LOAN INTEREST DUE

SPONSOR:  Scheve

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Insurance by a vote of 14 to 0.

This bill requires an insurer to notify a policyholder annually
of interest due on a loan made against a policy.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that policyholders should be made
aware of interest charges on loans.

Testifying for the bill was Representative Scheve.

OPPONENTS:  There was no opposition voiced to the committee.

Marty Romitti, Legislative Analyst

HB 1374 -- Notification of Loan Interest Due

Sponsor:  Scheve

This bill requires an insurer to notify a policyholder annually
of interest due on a loan made against a policy.