Did not become law. It stopped in the House of Representatives's Insurance Committee on February 1, 2011. The 2011 session has ended.
2011 Regular Session
House Bill 448
Charity or nonprofit corporation; has insurable interest in life of insured where it is owner and beneficiary of policy.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO AMEND SECTION 83-5-251, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A BONA FIDE CHARITY OR NONPROFIT CORPORATION HAS AN INSURABLE INTEREST IN THE LIFE OF AN INSURED UNDER AN INSURANCE POLICY IN WHICH THE CHARITY OR CORPORATION IS THE OWNER AND BENEFICIARY OF AN INSURANCE POLICY WITH THE INSURED'S RETIREMENT ACCOUNT DESIGNATED AS COLLATERAL ASSIGNEE OF THE INSURANCE POLICY TO SECURE REPAYMENT OF LOANS FROM THE RETIREMENT ACCOUNT TO THE CHARITY; TO AMEND SECTION 75-71-102, MISSISSIPPI CODE OF 1972, TO EXEMPT INSURANCE POLICIES ISSUED TO A CHARITY TO SECURE LOAN REPAYMENT TO A DONOR'S RETIREMENT ACCOUNT FROM THE DEFINITION OF "SECURITY" UNDER THE MISSISSIPPI SECURITIES ACT OF 2010; TO AMEND SECTION 79-11-343, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A CLAIM AGAINST A DISSOLVED NONPROFIT CORPORATION FOR A LIFE INSURANCE POLICY OWNED BY THE CHARITY SHALL NOT BE BARRED; TO AMEND SECTION 79-11-505, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE PROVISIONS REGULATING CHARITABLE SOLICITATIONS DO NOT APPLY TO LOANS FROM A DONOR'S RETIREMENT ACCOUNT TO CHARITY, IF NONE OF THE FUNDRAISING ACTIVITIES ARE CONDUCTED BY A PROFESSIONAL SOLICITOR PAID DIRECTLY BY THE CHARITY; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the House of Representatives
Sponsor
Its course
January 6 to February 1, 2011, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the House of RepresentativesJan 6 to Feb 1 · stopped26 days
InsuranceJan 6 to Feb 1 · stopped26 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.