SB 217 — Life Settlements Act; protect contractual/property rights of policy owner
Senate Date Signed by Governor
A BILL to be entitled an Act to amend Title 33 of the Official Code of Georgia Annotated, relating to insurance, so as to enact the "Life Settlements Act"; to provide a short title; to provide definitions; to provide for the protection of contractual and property rights of a life insurance policy owner to seek a life settlement; to establish consumer protections by providing for the regulation of a life settlement transaction; to provide for the licensing and regulation of a life settlement provider and others involved in a life settlement transaction; to provide for antifraud measures; to provide penalties for certain violations; to provide for related matters; to provide for severability; to provide an effective date; to repeal conflicting laws; and for other purposes.
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