An Act relative to annuity benefit insurance

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act relative to annuity benefit insurance

An Act relative to annuity benefit insurance By Representative Smola of Warren, a petition (accompanied by bill, House, No.

What This Bill Does

• An Act relative to annuity benefit insurance By Representative Smola of Warren, a petition (accompanied by bill, House, No.
• 1328) of Todd M.
• Smola for legislation to increase maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association.
• Financial Services.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

An Act relative to annuity benefit insurance
By Representative Smola of Warren, a petition (accompanied by bill, House, No. 1328) of Todd M. Smola for legislation to increase maximum liabilities of annuity benefit insurance payable by the Massachusetts Life and Health Insurance Guaranty Association. Financial Services.

Current Bill Text

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Bill H.1328

SECTION 1. Clause (iii) of paragraph (b) of subsection (3) of section 146B of chapter 175 of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by striking out the words “one hundred thousand dollars,” in line 160, and inserting in place thereof the following words:-

"five hundred thousand dollars."

SECTION 2. Said clause (iii) of said paragraph (b) of said subsection (3) of said section 146B of said chapter 175 of the General Laws is hereby further amended by striking out the words “three hundred thousand dollars,” in lines 132 to 133, inclusive, and inserting in place thereof the following words:-

"five hundred thousand dollars."

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