California 2015-2016 Regular Session Status: Enacted

SB 924 — Insurance: annuity transactions.

Last action — Chaptered by Secretary of State. Chapter 148, Statutes of 2016.

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed Assembly
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 28, 2016. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 5 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Summary

Under existing law, the Insurance Commissioner, who controls the California Department of Insurance, regulates the insurance industry. Existing law requires insurers and insurance producers, as defined, to comply with specified requirements regarding the purchase, exchange, or replacement of an annuity recommended to a consumer, including, but not limited to, having reasonable grounds for the insurance producer believing the annuity transaction would be suitable for the consumer based on "suitability information," including, among other factors, age, annual income, and whether the consumer has a reverse mortgage. Existing law authorizes the commissioner to require certain actions by, and impose sanctions and penalties on, insurers and their agents for a violation of these provisions. This bill would add to the suitability information whether the consumer intends to apply for means-tested government benefits, including, but not limited to, Medi-Cal or the veterans' aid and attendance benefit.

Bill Text

Action History

  1. Chaptered by Secretary of State. Chapter 148, Statutes of 2016.

  2. Approved by the Governor.

  3. Enrolled and presented to the Governor at 10 a.m.

  4. In Senate. Ordered to engrossing and enrolling.

  5. Read third time. Passed. (Ayes 77. Noes 0. Page 5718.) Ordered to the Senate.

  6. Read second time. Ordered to consent calendar.

  7. From committee: Do pass. Ordered to consent calendar. (Ayes 18. Noes 0.) (June 29).

  8. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 13. Noes 0.) (June 22). Re-referred to Com. on APPR.

  9. Referred to Com. on INS.

  10. In Assembly. Read first time. Held at Desk.

  11. Read third time. Passed. (Ayes 36. Noes 0. Page 3775.) Ordered to the Assembly.

  12. Read second time. Ordered to consent calendar.

  13. From committee: Be ordered to second reading pursuant to Senate Rule 28.8 and ordered to consent calendar.

  14. Set for hearing May 2.

  15. From committee: Do pass and re-refer to Com. on APPR. with recommendation: To consent calendar. (Ayes 8. Noes 0. Page 3560.) (April 13). Re-referred to Com. on APPR.

  16. From committee with author's amendments. Read second time and amended. Re-referred to Com. on INS.

  17. Set for hearing April 13.

  18. Referred to Com. on INS.

  19. From printer. May be acted upon on or after February 28.

  20. Introduced. Read first time. To Com. on RLS. for assignment. To print.

Sponsors

  • Roth · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 121 not signed on

Sponsors (1)

  • Roth

Co-sponsors (0)

None.

Not signed on (121)

121 members have not signed on to this bill.

Show all 121 →

"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.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

SB 924 Roth Consent Calendar Second Day

Passed 77 Yea · 0 Nay · 3 Other
Party YeaNayPresentNot Voting
Unaffiliated 67003
Democratic 5000
Republican 5000
Total 77003
% of votes cast 96%0%0%4%
How each member voted (80)
Member Party Vote
Achadjian — Yea
Baker — Yea
Bigelow — Yea
Bloom — Yea
Brough — Yea
Brown — Yea
Jones-Sawyer — Yea
Low — Yea
Maienschein — Yea
Mathis — Yea
Obernolte — Yea
Olsen — Yea
Rendon — Yea
Ting — Yea
Weber — Yea
Wilk — Yea
Eggman — Yea
Cooper — Yea
Frazier — Yea
Linder — Yea
Salas — Yea
Mayes — Yea
Rodriguez — Yea
Burke — Yea
Gatto — Yea
Gomez — Yea
Gordon — Yea
Campos — Yea
Harper — Yea
Holden — Yea
Gray — Yea
Kim — Yea
Atkins — Yea
Chang — Yea
Bonilla — Yea
Levine — Yea
Lopez — Yea
McCarty — Yea
Medina — Yea
Melendez — Yea
Mullin — Yea
Nazarian — Yea
O'Donnell — Yea
Alejo — Yea
Chau — Yea
Chiu — Yea
Chu — Yea
Chávez — Not Voting
Cooley — Not Voting
Dababneh — Yea
Daly — Yea
Dodd — Yea
Quirk — Yea
Ridley-Thomas — Yea
Santiago — Yea
Steinorth — Yea
Thurmond — Yea
Wagner — Yea
Waldron — Yea
Williams — Yea
Wood — Yea
Hadley — Yea
Beth Gaines — Yea
Cristina Garcia — Yea
Eduardo Garcia — Yea
Jim Patterson — Yea
Lorena Gonzalez — Yea
Mark Stone — Yea
Roger Hernández — Not Voting
Travis Allen — Yea
Arambula, Joaquin Democratic Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gipson, Mike A. Democratic Yea
Irwin, Jacqui Democratic Yea
Dahle, Megan Republican Yea
Gallagher, James Republican Yea
Grove, Shannon Republican Yea
Jones, Brian W. Republican Yea
Lackey, Tom Republican Yea

Official roll call →

Do pass. To Consent Calendar.

Passed 18 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Unaffiliated 14002
Democratic 2000
Republican 2000
Total 18002
% of votes cast 90%0%0%10%
How each member voted (20)
Member Party Vote
Bloom — Yea
Obernolte — Yea
Quirk — Yea
Eggman — Yea
Chang — Yea
Bigelow — Yea
Daly — Yea
Holden — Yea
Santiago — Yea
Wagner — Yea
Weber — Yea
Wood — Yea
Bonilla — Not Voting
Eduardo Garcia — Not Voting
Lorena Gonzalez — Yea
Roger Hernández — Yea
Bonta, Mia Democratic Yea
Calderon, Lisa Democratic Yea
Gallagher, James Republican Yea
Jones, Brian W. Republican Yea

Official roll call →

Do pass and be re-referred to the Committee on [Appropriations] with recommendation: To Consent Calendar

Passed 13 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 11000
Democratic 1000
Republican 1000
Total 13000
% of votes cast 100%0%0%0%
How each member voted (13)
Member Party Vote
Melendez — Yea
Rodriguez — Yea
Chu — Yea
Cooper — Yea
Daly — Yea
Frazier — Yea
Gatto — Yea
Bigelow — Yea
Cooley — Yea
Dababneh — Yea
Travis Allen — Yea
Calderon, Lisa Democratic Yea
Dahle, Megan Republican Yea

Official roll call →

Consent Calendar 2nd

Passed 36 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 33004
Democratic 3000
Total 36004
% of votes cast 90%0%0%10%
How each member voted (40)
Member Party Vote
Anderson — Not Voting
Block — Yea
Hill — Yea
Mendoza — Yea
Monning — Yea
Nielsen — Yea
Roth — Yea
Wolk — Yea
Cannella — Yea
Fuller — Yea
Galgiani — Yea
Glazer — Yea
Allen — Yea
Mitchell — Yea
De León — Yea
Hall — Yea
Hancock — Yea
Runner — Not Voting
Hernandez — Yea
Bates — Yea
Beall — Yea
Hertzberg — Yea
Hueso — Yea
Huff — Yea
Lara — Yea
Leno — Yea
Leyva — Yea
Liu — Yea
Moorlach — Not Voting
Morrell — Yea
Pan — Yea
Pavley — Yea
Vidak — Not Voting
Wieckowski — Yea
Beth Gaines — Yea
Bill Berryhill — Yea
Mark Stone — Yea
Jackson, Corey A. Democratic Yea
McGuire, Mike Democratic Yea
Nguyen, Stephanie Democratic Yea

Official roll call →

Subjects

finance veterans health-insurance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does SB 924 do?
Under existing law, the Insurance Commissioner, who controls the California Department of Insurance, regulates the insurance industry. Existing law requires insurers and insurance producers, as defined, to comply with specified requirements regarding the purchase, exchange, or replacement of an annuity recommended to a consumer, including, but not limited to, having reasonable grounds for the insurance producer believing the annuity transaction would be suitable for the consumer based on "suitability information," including, among other factors, age, annual income, and whether the consumer has a reverse mortgage. Existing law authorizes the commissioner to require certain actions by, and impose sanctions and penalties on, insurers and their agents for a violation of these provisions. This bill would add to the suitability information whether the consumer intends to apply for means-tested government benefits, including, but not limited to, Medi-Cal or the veterans' aid and attendance benefit.
Who sponsors SB 924?
SB 924 is sponsored by Roth.
What is the current status of SB 924?
This bill has been enacted into law. Introduced January 28, 2016. Enacted.
Where can I track SB 924?
Track SB 924 free on One Click Politics — get push/email alerts when it moves.

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