| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | <BillNo> <Sponsor> | |
| 3 | 3 | ||
| 4 | 4 | HOUSE BILL 59 | |
| 5 | 5 | By Hakeem | |
| 6 | 6 | ||
| 7 | 7 | ||
| 8 | 8 | HB0059 | |
| 9 | 9 | 000741 | |
| 10 | 10 | - 1 - | |
| 11 | 11 | ||
| 12 | 12 | AN ACT to amend Tennessee Code Annotated, Title 56, | |
| 13 | 13 | relative to insurance. | |
| 14 | 14 | ||
| 15 | 15 | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: | |
| 16 | 16 | SECTION 1. Tennessee Code Annotated, Title 56, Chapter 7, Part 3, is amended by | |
| 17 | 17 | adding the following as a new section: | |
| 18 | 18 | (a) As used in this section, "life insurance" has the same meaning as defined in | |
| 19 | 19 | ยง 56-2-201. | |
| 20 | 20 | (b) For policies of or contracts for life insurance issued, amended, or renewed on | |
| 21 | 21 | or after July 1, 2025, once the policy holder has made premium payments, in the | |
| 22 | 22 | aggregate, equal to the amount of coverage under the life insurance policy, the issuer of | |
| 23 | 23 | the life insurance policy is not entitled to further premium payments and shall not request | |
| 24 | 24 | additional premium payments from the policy holder. | |
| 25 | 25 | SECTION 2. This act takes effect July 1, 2025, the public welfare requiring it. |