West Virginia House Bill 4473 (Prior Session Legislation)

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Sponsorship: Slight Partisan Bill (Republican 2-1)
Status: Introduced on February 10 2016 - 25% progression, died in committee
Action: 2016-02-19 - To House Judiciary
Pending: House Judiciary Committee
Text: Latest bill text (Introduced) [HTML]

The purpose of this bill is to clarify an unintended result as expressed in the holding of the Supreme Court of Appeals of West Virginia in the case of State of West Virginia ex rel. John D. Perdue v. Nationwide Life Insurance Company, No. 14-0100 (W. Va. June 16, 2015). The bill clarifies that the obligation to pay does not arise until after a claim is made with the insurer and due proof of death is received by the insurer. The bill clarifies that the proceeds of a life or endowment insurance policy or annuity are presumed abandoned three years after the date of an insured’s death. The bill is retroactive given its intent to restate and clarify the law as previously enacted by the Legislature prior to the court decision. .

Clarifying that when the presumption of abandonment arises with respect to a life insurance policy or annuity payable upon proof of death

Del. Steve Westfall [R]

Del. Brad White [R]

Del. William Hartman [D]

Date	Chamber	Action
2016-02-19	House	To House Judiciary
2016-02-19	House	With amendment, do pass, but first to Judiciary
2016-02-10	House	To House Banking and Insurance
2016-02-10	House	Introduced in House
2016-02-10	House	To Banking and Insurance then Judiciary
2016-02-10	House	Filed for introduction

Chapter	Article	Section	Citation Type	Statute Text
36	8	2	Amended Code	Citation Text

Type	Source
Summary	http://www.legis.state.wv.us/Bill_Status/Bills_history.cfm?input=4473&year=2016&sessiontype=RS&btype=bill
Text	http://www.legis.state.wv.us/Bill_Status/bills_text.cfm?billdoc=hb4473%20intr.htm&yr=2016&sesstype=RS&i=4473