A national state legislators group due to vote on model legislation for the life insurance industry includes several members who have taken campaign money from parties who could be affected by the measure.
The National Conference of Insurance Legislators, Troy, N.Y., is in the final stages of developing its Life Settlements Model Act. The group is scheduled to hold an all-day meeting on Oct. 25 in Chicago and another full-day meeting on Nov. 14 just prior to its annual meeting in Las Vegas.
Legislators developing the model hope it can be voted through NCOIL at the annual meeting, according to George Keiser, chair of the NCOIL Life Settlements subcommittee.
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