House Bill 1221

Chair’s Name: Tom Knox

Committee:Insurance

House Sponsor: Howard Maxwell

HB 1221 allows corporations or trusts to hold an insurance contract if the entity has at least two employees. The original statute required the entity to have at least one hundred employees before they could take out insurance on an employee with whom they had an insurable interest.

This bill comes to the House Floor under the Open Rule.

Chairman Knox’s opinion of this legislation:

This is a change in the technical ability of companies to provide Life Insurance Coverage to smaller numbers of persons in a group.

This Legislation:

•        Strengthens our families and Increases Personal Responsibility by allowing individuals to provide financial security for their families

Further Action

The Senate added the “Georgia Health Marketplace Act.”