WA People
BILL · 2005–06 SESSION · LATEST VERSION SHB 1033

HB 1033: Emplyr-owned life insurance

Regulating insurable interests and employer-owned life insurance.

Summary

  • Allows an employer to insure a nonmanagement or retired employee if certain circumstances are met.
  • Requires written consent of an employee before an employer may insure the life of the employee for the benefit of the employer.
  • Requires the disclosure of certain information to the employee whose life is insured within 30 days of purchase of the policy by the employer.

From the Substitute House Bill Report (SHB 1033), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed House, stalled in Senate
  1. IntroducedJan 11, 2005
  2. Out of committeeFeb 10, 2005
  3. Passed HouseMar 8, 2005
  4. Passed Senatestopped here
  5. Governor
  6. Law
Prime sponsor
Steve Kirby (D-29)
Introduced
January 11, 2005 in the House
Last action
January 9, 2006
Requested by
Other
Companion bill
SB 5196
Versions
HB 1033, SHB 1033

AN ACT Relating to insurable interests and employer-owned life insurance;

Sponsors

Prime sponsor: Steve Kirby (D-29)

3 co-sponsors (2 Democrats, 1 Republican)

Dan Roach R-31Dawn Morrell D-25Geoff Simpson D-47

Votes

House · Final Passage

Passed March 8, 2005
Version voted on: SHB 1033
55 Yea 43 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat55100
Republican04200
How each member voted

Yea (55)

Permalink to this vote

History

  1. By resolution, reintroduced and retained in present status. (SHB 1033)
  2. House Rules "X" file. (SHB 1033)
  3. By resolution, returned to House Rules Committee for third reading. (SHB 1033)
  4. First reading, referred to Financial Institutions, Housing & Consumer Protection. (SHB 1033)
  5. Third reading, passed; yeas, 55; nays, 43; absent, 0; excused, 0. (SHB 1033)
  6. Rules suspended. Placed on Third Reading. (SHB 1033)
  7. 1st substitute bill substituted. (SHB 1033)
  8. 1st substitute bill substituted.
  9. Placed on second reading by Rules Committee. (SHB 1033)
  10. Placed on second reading by Rules Committee.
  11. Made eligible to be placed on second reading. (SHB 1033)
  12. Made eligible to be placed on second reading.
  13. Passed to Rules Committee for second reading. (SHB 1033)
  14. Passed to Rules Committee for second reading.
  15. FII - Majority; 1st substitute bill be substituted, do pass. (SHB 1033)
  16. Minority; do not pass. (SHB 1033)
  17. Minority; do not pass.
  18. FII - Majority; 1st substitute bill be substituted, do pass.
  19. FII - Executive action taken by committee.
  20. First reading, referred to Financial Institutions & Insurance.

HB 1033 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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