HB 1379-1_ Filed 02/20/2008, 14:54 Steele
that Engrossed House Bill 1379 be amended to read as follows:
SOURCE: Page 1, line 1; (08)MO137910.1. -->
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
SOURCE: IC 27-1-12-44; (08)MO137910.1. -->
"SECTION 1. IC 27-1-12-44 IS ADDED TO THE INDIANA CODE
AS A NEW
SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2008]: Sec. 44. (a) This section applies to a life insurance policy
that is issued after June 30, 2008.
(b) Notwithstanding any other law, an insurer shall not, after a
life insurance policy has been in force for two (2) years after the
life insurance policy's date of issue, allege that the life insurance
policy was issued in connection with stranger originated life
insurance (as defined in IC 27-8-19.8-7.8) as a basis to deny
payment of the proceeds of the life insurance policy.
Renumber all SECTIONS consecutively.
(Reference is to EHB 1379 as printed February 19, 2008.)