Mike Eng
- Democratic
Author
Existing law provides that all insurers, brokers, agents, and others engaged in the transaction of insurance owe a prospective insured who is 65 years of age or older, a duty of honesty, good faith, and fair dealing. This duty is in addition to any other duty, whether express or implied, that may exist. This bill would prohibit an insurance broker or agent from participating in, being associated with, or employing any party that participates in or is associated with, the origination of a reverse mortgage, except as provided. The bill would also prohibit, with exceptions, individuals transacting insurance from receiving compensation, commission, or direct incentive for providing reverse mortgage borrowers with a noncasualty insurance product that is connected to or a result of the reverse mortgage.
Chaptered by Secretary of State - Chapter 223, Statutes of 2011.
Approved by the Governor.
Enrolled and presented to the Governor at 11:30 a.m.
In Assembly. Ordered to Engrossing and Enrolling.
Read third time. Passed. Ordered to the Assembly. (Ayes 39. Noes 0. Page 1970.).
Read second time. Ordered to third reading.
From committee: Be placed on second reading file pursuant to Senate Rule 28.8.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (June 8). Re-referred to Com. on APPR.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 70. Noes 0. Page 1355.)
Read second time. Ordered to consent calendar.
From committee: Do pass. To consent calendar. (Ayes 17. Noes 0.) (May 4).
From committee: Do pass and re-refer to Com. on APPR. (Ayes 12. Noes 0.) (April 13). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to Com. on INS. Read second time and amended.
From printer. May be heard in committee March 20.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB793 | HTML |
| 02/17/11 - Introduced | |
| 04/04/11 - Amended Assembly | |
| 08/22/11 - Enrolled | |
| 09/06/11 - Chaptered |
| Document | Format |
|---|---|
| No related documents. |
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