House Sponsors: MAUTINO-BRADY-MOORE,EUGENE-FEIGENHOLTZ AND HOWARD. Short description: INSURANCE SALES ACT Synopsis of Bill as introduced: Creates the Insurance Sales Act. Provides for the regulation of insurance sales by financial institutions by the Department of Insurance. Requires financial institutions to establish a separate subsidiary to act as an insurance registered firm. Prohibits financial institutions from linking banking products with insurance products. Establishes disclosure requirements. Prohibits financial institutions from discriminating against non-affiliated insurance producers. Requires compliance beginning 180 days after the effective date. Effective 180 days after becoming law. FISCAL NOTE (Dept. of Insurance) The Dept. does not anticipate any increased cost due to HB222. Last action on Bill: SESSION SINE DIE Last action date: 99-01-12 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status