WA People
BILL · 2005–06 SESSION

SB 5196: Emplyr-owned life insurance

Regulating insurable interests and employer-owned life insurance.

Summary

  • 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 an employee whose life is insured within 30 days of purchase of the policy by the employer.
  • Provides an intent statement.
  • Provides rule-making authority.
  • Requires a report to the Legislature regarding implementation of the act on or before December 31, 2006.

From the House Bill Report (SB 5196), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 337, Laws of 2005
  1. IntroducedJan 17, 2005
  2. Out of committeeJan 21, 2005
  3. Passed SenateFeb 23, 2005
  4. Passed HouseApr 14, 2005
  5. GovernorMay 9, 2005
  6. LawMay 9, 2005
Prime sponsor
Darlene Fairley (D-32)
Introduced
January 17, 2005 in the Senate
Last action
May 9, 2005
Session law
Chapter 337, Laws of 2005
Requested by
Other
Companion bill
HB 1033
Budget
Has a fiscal note

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

Sponsors

Prime sponsor: Darlene Fairley (D-32)

5 co-sponsors (3 Democrats, 2 Republicans)

Don Benton R-17Karen Keiser D-33Brad Benson R-6Rosa Franklin D-29Jean Berkey D-38

Votes

Senate · Final passage

Passed February 23, 2005
Version voted on: SB 5196
46 Yea 0 Nay 0 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat26000
Republican20003
How each member voted

Yea (46)

Excused (3)

Permalink to this vote

House · Final Passage as Amended by the House

Passed April 14, 2005
Version voted on: SB 5196
95 Yea 1 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat55001
Republican40101
How each member voted

Yea (95)

Nay (1)

Excused (2)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed April 18, 2005
Version voted on: SB 5196
37 Yea 0 Nay 1 Absent 11 Excused
PartyYeaNayAbsentExcused
Democrat22013
Republican15008
How each member voted

Absent (1)

Permalink to this vote

History

  1. Effective date 7/24/2005.
  2. Chapter 337, 2005 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Passed final passage; yeas, 37; nays, 0; absent, 1; excused, 11.
  8. Senate concurred in House amendments.
  9. Third reading, passed; yeas, 95; nays, 1; absent, 0; excused, 2.
  10. Rules suspended. Placed on Third Reading.
  11. Floor amendment(s) adopted.
  12. Placed on second reading by Rules Committee.
  13. Passed to Rules Committee for second reading.
  14. FII - Executive action taken by committee.
  15. FII - Majority; do pass.
  16. First reading, referred to Financial Institutions & Insurance.
  17. Third reading, passed; yeas, 46; nays, 0; absent, 0; excused, 3.
  18. Rules suspended. Placed on Third Reading.
  19. Placed on second reading by Rules Committee.
  20. Passed to Rules Committee for second reading.
  21. FHC - Majority; do pass.
  22. First reading, referred to Financial Institutions, Housing & Consumer Protection.

SB 5196 in other sessions

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

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