Governor McCrory Signs Bill To Ensure Distribution Of Unclaimed Life Insurance Benefits | Eastern North Carolina Now

Governor Pat McCrory signed Senate Bill 665 into law today. The legislation requires insurance companies authorized to transact life insurance business in North Carolina to determine semi-annually if that insurer's records of in-force policies, annuities, and account owners cross-match with any...

ENCNow
Press Release:

    Raleigh, N.C.     Governor Pat McCrory signed Senate Bill 665 into law today. The legislation requires insurance companies authorized to transact life insurance business in North Carolina to determine semi-annually if that insurer's records of in-force policies, annuities, and account owners cross-match with any record in the United States Social Security Administration's death master file or a similar database, with some exceptions. Upon a match, the insurer would be required to engage in a good-faith effort to verify the death and locate any beneficiaries.

    Governor McCrory also signed Senate Bill 399 which allows a joint agency created by interlocal agreement for the purposes of fire protection, police protection, and emergency services to receive a refund of sales and use taxes.

  • Contact: Crystal Feldman
  •     govpress@nc.gov

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