Louisiana 2022 2022 Regular Session

Louisiana House Bill HB213 Comm Sub / Analysis

                    DIGEST
The digest printed below was prepared by House Legislative Services.  It constitutes no part of the
legislative instrument.  The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent.  [R.S. 1:13(B) and 24:177(E)]
HB 213 Engrossed	2022 Regular Session	Gregory Miller
Abstract:  Provides for the automatic revocation of certain beneficiary designations for retirement
accounts and life insurance policies upon divorce.
Proposed law (R.S. 9:2449.1) provides for the automatic revocation of any revocable designation
resulting in a benefit payable to a former spouse if the parties were divorced after the beneficiary is
designated, they remain divorced at the time of a party's death, and no agreement expressly provides
otherwise.
Proposed law also provides a limitation of liability for a payor who does not have actual knowledge
of the divorce and who makes payment in good faith.
Proposed law does not apply to beneficiary designations made pursuant to the La. Public Retirement
Law. 
Proposed law (R.S. 22:911.1) provides for the automatic revocation of any benefit payable to a
former spouse in a life insurance policy if the parties were divorced after the beneficiary is
designated, they remain divorced at the time of a party's death, and no agreement expressly provides
otherwise.
Proposed law also provides a limitation of liability for a payor who does not have actual knowledge
of the divorce and who makes payment in good faith.
(Adds R.S. 9:2449.1 and R.S. 22:911.1)
Summary of Amendments Adopted by House
The Committee Amendments Proposed by House Committee on Civil Law and Procedure to the
original bill:
1. Provide that the revocation provisions for retirement benefits apply only to revocable
designations.
2. Exempt beneficiary designations made pursuant to the Public Retirement Law from the
revocation provisions.
3. Revise the comments to reflect the adopted amendments.