90th General Assembly
Summary of HB0222
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House Sponsors:

Short description: 
INSURANCE SALES ACT                                                        

Synopsis of Bill as introduced:
        Creates the Insurance Sales Act.  Provides for the regulation  of      
   insurance  sales  by  financial  institutions  by  the  Department  of      
   Insurance.   Requires  financial  institutions to establish a separate      
   subsidiary  to  act  as  an  insurance  registered  firm.    Prohibits      
   financial  institutions  from  linking banking products with insurance      
   products.  Establishes disclosure  requirements.  Prohibits  financial      
   institutions  from  discriminating  against  non-affiliated  insurance      
   producers.  Requires compliance beginning 180 days after the effective      
   date.  Effective 180 days after becoming law.                               
          FISCAL NOTE (Dept. of Insurance)                                     
          The Dept. does not anticipate any increased cost due to HB222.       
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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