WA People
BILL · 2009–10 SESSION · LATEST VERSION ESSB 5671

SB 5671: Suitability of annuities

Determining the suitability of annuities sold in Washington.

Summary

  • Requires insurers and insurance producers to meet suitability standards when recommending the purchase or exchange of an annuity to a consumer.
  • Grants the Insurance Commissioner rule-making authority.

From the Engrossed Substitute House Bill Report (ESSB 5671), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 18, Laws of 2009
  1. IntroducedJan 28, 2009
  2. Out of committeeFeb 19, 2009
  3. Passed SenateMar 6, 2009
  4. Passed HouseMar 13, 2009
  5. GovernorMar 30, 2009
  6. LawMar 30, 2009
Prime sponsor
Jean Berkey (D-38)
Introduced
January 28, 2009 in the Senate
Last action
March 30, 2009
Session law
Chapter 18, Laws of 2009
Requested by
Other
Companion bill
HB 1563
Budget
Has a fiscal note
Versions
SB 5671, ESSB 5671

AN ACT Relating to the suitability of annuities sold in Washington;

Sponsors

Prime sponsor: Jean Berkey (D-38)

3 co-sponsors (3 Democrats, 0 Republicans)

Rosa Franklin D-29Paull Shin D-21Mary Margaret Haugen D-10

Votes

Senate · 3rd Reading & Final Passage

Passed March 6, 2009
Version voted on: ESSB 5671
45 Yea 0 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat28003
Republican17001
How each member voted

Excused (4)

Permalink to this vote

House · Final Passage as Amended by the House

Passed March 13, 2009
Version voted on: ESSB 5671
92 Yea 0 Nay 0 Absent 5 Excused
PartyYeaNayAbsentExcused
Democrat59003
Republican33002
How each member voted

Yea (92)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed March 20, 2009
Version voted on: ESSB 5671
43 Yea 0 Nay 0 Absent 6 Excused
PartyYeaNayAbsentExcused
Democrat29002
Republican14004
How each member voted
Permalink to this vote

History

  1. Effective date 7/26/2009. (ESSB 5671)
  2. Chapter 18, 2009 Laws. (ESSB 5671)
  3. Governor signed. (ESSB 5671)
  4. Delivered to Governor. (ESSB 5671)
  5. Speaker signed. (ESSB 5671)
  6. President signed. (ESSB 5671)
  7. Passed final passage; yeas, 43; nays, 0; absent, 0; excused, 6. (ESSB 5671)
  8. Senate concurred in House amendments. (ESSB 5671)
  9. Third reading, passed; yeas, 92; nays, 0; absent, 0; excused, 5. (ESSB 5671)
  10. Rules suspended. Placed on Third Reading. (ESSB 5671)
  11. Committee amendment adopted with no other amendments. (ESSB 5671)
  12. Passed to Rules Committee for second reading. (ESSB 5671)
  13. Rules Committee relieved of further consideration. Placed on second reading. (ESSB 5671)
  14. FII - Executive action taken by committee. (ESSB 5671)
  15. FII - Majority; do pass with amendment(s). (ESSB 5671)
  16. First reading, referred to Financial Institutions & Insurance. (ESSB 5671)
  17. Third reading, passed; yeas, 45; nays, 0; absent, 0; excused, 4. (ESSB 5671)
  18. Rules suspended. Placed on Third Reading. (ESSB 5671)
  19. Floor amendment(s) adopted. (ESSB 5671)
  20. 1st substitute bill substituted. (ESSB 5671)
  21. 1st substitute bill substituted.
  22. Placed on second reading by Rules Committee. (ESSB 5671)
  23. Placed on second reading by Rules Committee.
  24. FIHI - Majority; 1st substitute bill be substituted, do pass. (ESSB 5671)
  25. Passed to Rules Committee for second reading. (ESSB 5671)
  26. Passed to Rules Committee for second reading.
  27. FIHI - Majority; 1st substitute bill be substituted, do pass.
  28. First reading, referred to Financial Institutions, Housing & Insurance.

SB 5671 in other sessions

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

Report wrong or missing information on this page