FILED SENATE
Apr 6, 2021
GENERAL ASSEMBLY OF NORTH CAROLINA
S.B. 574
SESSION 2021 PRINCIPAL CLERK
S D
SENATE BILL DRS45324-MR-93
Short Title: Life Insurance Beneficiary Changes. (Public)
Sponsors: Senator Steinburg (Primary Sponsor).
Referred to:
1 A BILL TO BE ENTITLED
2 AN ACT TO ALLOW A CHANGE OF BENEFICIARY UNDER A LIFE INSURANCE
3 POLICY IF THAT BENEFICIARY WAS SELECTED UNDER FRAUDULENT
4 CIRCUMSTANCES OR FALSE PRETENSES.
5 The General Assembly of North Carolina enacts:
6 SECTION 1. Part 3 of Article 58 of Chapter 8 of the General Statutes is amended
7 by adding a new section to read:
8 "§ 58-58-96. Ability to change beneficiary.
9 No life insurance company in this State shall prohibit the owner of a life insurance policy
10 from making a change to a beneficiary of that owner's policy if the beneficiary was selected under
11 fraudulent circumstances or false pretenses."
12 SECTION 2. This act is effective when it becomes law and applies to life insurance
13 policies issued, renewed, or amended on or after that date.
*DRS45324-MR-93*