HB 1045: Insurance Companies, Agents, Brokers, Policies - As enacted, clarifies that the exemption from claims of creditors for the net amount payable under a policy of life insurance or under an annuity contract upon the life of a person made for the benefit of, or assigned to, the spouse, children, or dependent relatives of the person includes claims through execution, attachment, seizure, and garnishment, and that use of exempt funds does not change the classification of the funds used from exempt to nonexempt. - Amends TCA Title 56.

Plain-language summary

HB 1045 is a bill introduced in the Tennessee House on February 5, 2025. According to its official title, it concerns: Insurance Companies, Agents, Brokers, Policies - As enacted, clarifies that the exemption from claims of creditors for the net amount payable under a policy of life insurance or under an annuity contract upon the life of a person made for the benefit of, or assigned to, the spouse, children, or dependent relatives of the person includes claims through execution, attachment, seizure, and garnishment, and that use of exempt funds does not change the classification of the funds used from exempt to nonexempt. - Amends TCA Title 56. Primary sponsor: Johnny Shaw (Democratic). Most recent recorded action (April 4, 2025): Pub. Ch. 150.

Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written