Legislative intent

The General Assembly intends for this subchapter to: (1) Recognize the escheat or unclaimed property statutes under the Unclaimed Property Act, § 18-28-201 et seq.; and (2) Require the complete and proper disclosure, transparency, and accountability for any method of payment of death benefits under a life insurance policy that is subject to regulation by the State Insurance Department. Added by Act 2015, No. 905,§ 1, eff. 7/22/2015, op. applicable to policies issued after June 30, 2016. The General Assembly intends for this subchapter to: (1) Recognize the escheat or unclaimed property statutes under the Unclaimed Property Act, § 18-28-201 et seq.; and (2) Require the complete and proper disclosure, transparency, and accountability for any method of payment of death benefits under a life insurance policy that is subject to regulation by the State Insurance Department. Added by Act 2015, No. 905,§ 1, eff. 7/22/2015, op. applicable to policies issued after June 30, 2016.