This Act clarifies that a securities intermediary or bank acting solely in an administrative, trustee or custodial capacity shall not incur liability for receipt of policy proceeds. This Act also preserves recovery rights against investors and applies only to actions brought on or after the date of enactment of this Act into law.
- Chamber
- Senate
- Introduced
- Jun 30, 2026
- Last action
- Jun 30, 2026 — Introduced and Assigned to Executive Committee in Senate
- Sponsor
- Darius Brown D
- Session
- 153
- Momentum
- 26 · Low