Bill Text: AZ SB1432 | 2017 | Fifty-third Legislature 1st Regular | Introduced

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Bill Title: Annuities; withdrawals; restoration

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2017-02-01 - Senate read second time [SB1432 Detail]

Download: Arizona-2017-SB1432-Introduced.html

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REFERENCE TITLE: annuities; withdrawals; restoration

 

 

 

State of Arizona

Senate

Fifty-third Legislature

First Regular Session

2017

 

 

SB 1432

 

Introduced by

Senator Meza

 

 

AN ACT

 

Amending title 20, chapter 6, article 1, Arizona Revised Statutes, by adding section 20-1234; relating to annuities.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 20, chapter 6, article 1, Arizona Revised Statutes, is amended by adding section 20-1234, to read:

START_STATUTE20-1234.  Annuities; withdrawals; restoration

Notwithstanding any other law, if a holder of an annuity makes any withdrawals from the annuity before its commencement date, the withdrawals may be restored to the annuity in whole or in part, at once or in stages, at any time before the annuity commencement date is reached.END_STATUTE