SB 5530 - DIGEST
(SEE ALSO PROPOSED 1ST SUB)

Creates the guaranteed asset protection waiver model act.

Authorizes the insurance commissioner to take action that is necessary or appropriate to enforce the act and to protect guaranteed asset protection waiver holders in this state.

Creates the guaranteed asset protection waiver account.

Provides that the act is applicable to all guaranteed asset protection waiver agreements entered into on or after January 1, 2010.