S. 1389: Fixed Indexed Annuities and Insurance Products Classification Act of 2009
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S. 1389: Fixed Indexed Annuities and Insurance Products Classification Act of 2009
111th Congress · introduced 2009-06-25 · Finance and Financial Sector · Latest: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
federal
Follow this bill, step by step
- Where it came from: introduced 2009-06-25 · official record
- Who proposed it: Sen. Nelson, Ben [D-NE] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Fixed Indexed Annuities and Insurance Products Classification Act of 2009
Plain summary
Fixed Indexed Annuities and Insurance Products Classification Act of 2009 - Amends the Securities Act of 1933 to include within the class of securities exempt from its coverage any insurance or endowment policy or annuity contract or optional annuity contract: (1) whose value does not vary according to the performance of a separate account; and (2) which satisfies standard nonforfeiture laws or similar requirements of the applicable state, Territory, or District of Columbia at time of issue or, in the absence of applicable standard nonforfeiture laws or requirements, satisfies the Model Standard Nonforfeiture Law for Life Insurance or Model Standard Nonforfeiture Law for Individual Deferred Annuities, or any successor model law, as published by the National Association of Insurance Commissioners. Declares without force or effect Rule 151A promulgated by the Securities and Exchange Commission (SEC) on January 16, 2009, and entitled "Indexed Annuities and Certain Other Insurance Contracts."
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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If it passes both chambers and is signed, it becomes law.
A “Nay” vote
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PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Fixed Indexed Annuities and Insurance Products Classification Act of 2009
Source: Congressional Research Service summary (Introduced in Senate)
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Nelson, Ben [D-NE] · 15 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Chuck Grassley (R-IA), Roger F. Wicker (R-MS)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (4)
- Endowment
- A fund that is invested so its earnings pay for a purpose over time, while the main amount is kept.
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
- Rulemaking
- The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-111s1389.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/111/s>
Record fed-us-cong111-s1389 · catalog fed-us-congress-bills-cong111 · updated 2026-11-15 by psicol fed-bills-cong111