General Assembly Proposed Bill No. 617
January Session, 2013 LCO No. 999
Referred to Committee on JUDICIARY
Introduced by:
SEN. KELLY, 21st Dist.
General Assembly
Proposed Bill No. 617
January Session, 2013
LCO No. 999
Referred to Committee on JUDICIARY
Introduced by:
SEN. KELLY, 21st Dist.
AN ACT CONCERNING THE APPOINTMENT OF A VIRTUAL REPRESENTATIVE FOR A MINOR CHILD WHO IS THE BENEFICIARY OF AN IRREVOCABLE LIFE INSURANCE TRUST.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That chapter 802c of the general statutes be amended to require that (1) the parent or guardian of a minor child who is the beneficiary of an irrevocable life insurance trust shall designate a virtual representative for the minor child, and (2) the virtual representative shall be designated as the person who receives the annual notice informing the minor child that he or she may opt to receive moneys that are being paid as premiums on the policy funding the irrevocable life insurance trust.
Statement of Purpose:
To require the appointment of a virtual representative for a minor child who is the beneficiary of an irrevocable life insurance trust.