REFERENCE TITLE: annuities; withdrawals; restoration

State of Arizona Senate Fifty-third Legislature Second Regular Session 2018

SB 1490

Introduced by Senator Meza

 

AN ACT

 

Amending title 20, chapter 6, article 1, Arizona Revised Statutes, by adding section 20-1211; relating to annuities.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 20, chapter 6, article 1, Arizona Revised Statutes, is amended by adding section 20-1211, to read:

START_STATUTE20-1211.  Annuities; withdrawals; restoration

Notwithstanding any other law, if a holder of an annuity makes withdrawals from the annuity before its commencement date, the withdrawals may be restored to the annuity in whole or in part, at once or in stages, at any time before the annuity commencement date is reached.END_STATUTE