SB509 — INSURANCE DEPARTMENT: Provides relative to bank-owned life insurance. (8/1/26)
Last action — Effective date 8/1/2026.
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✓Introduced
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✓In Committee
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✓Passed Senate
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✓Passed House
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✓To Executive
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6Enacted
This bill has been enacted into law. Introduced March 31, 2026. Enacted.
Signed by Governor Jeff Landry (Republican) on May 28, 2026.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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1 sponsor
1 primary, 0 co-sponsors signed on.
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Single-party support
Sponsorship is currently within one party (1 R).
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
In plain language
The bill updates regulations regarding bank-owned life insurance.
This legislation focuses on the management and regulation of bank-owned life insurance policies. It aims to clarify and modify existing laws surrounding these financial products and their implications.
Summary
INSURANCE DEPARTMENT: Provides relative to bank-owned life insurance. (8/1/26)
Bill Text
We don't have the full text on file for this bill yet.
Read SB509 on the official Louisiana source →Action History
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Rules suspended. Introduced in the Senate. Read by title and placed on the Calendar for a second reading.
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Read second time by title and referred to the Committee on Insurance.
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Reported favorably.
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Read by title. Ordered engrossed and passed to third reading and final passage.
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Senate floor amendments read and adopted. Read by title and passed by a vote of 36 yeas and 0 nays; ordered reengrossed and sent to the House. Motion to reconsider tabled.
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Received in the House from the Senate, read by title, lies over under the rules.
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Read by title, under the rules, referred to the Committee on Insurance.
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Reported with amendments (7-4). Referred to the Legislative Bureau.
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Reported without Legislative Bureau amendments.
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Read by title, amended, passed to 3rd reading.
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Scheduled for floor debate on 05/26/2026.
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Read third time by title, amended, roll called on final passage, yeas 65, nays 30. Finally passed, ordered to the Senate.
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Received from the House with amendments.
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Amendments proposed by the House read and concurred in by a vote of 30 yeas and 5 nays.
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Enrolled. Signed by the President of the Senate.
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Signed by the Speaker of the House.
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Sent to the Governor by the Secretary of the Senate.
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Signed by the Governor. Becomes Act No. 588.
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Effective date 8/1/2026.
Sponsors
- Heather Cloud · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 146 not signed on
Sponsors (1)
- Heather Cloud Republican
Co-sponsors (0)
None.
Not signed on (146)
146 members have not signed on to this bill.
Show all 146 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does SB509 do?
- INSURANCE DEPARTMENT: Provides relative to bank-owned life insurance. (8/1/26)
- Who sponsors SB509?
- SB509 is sponsored by Heather Cloud (Republican).
- What is the current status of SB509?
- This bill has been enacted into law. Introduced March 31, 2026. Enacted.
- Where can I track SB509?
- Track SB509 free on One Click Politics — get push/email alerts when it moves.
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