House File 504 S-3152 Amend House File 504, as passed by the House, as 1 follows: 2 1. Page 4, after line 11 by inserting: 3 < Sec. ___. Section 522B.11, subsection 7, paragraph 4 e, Code 2015, is amended by striking the paragraph and 5 inserting in lieu thereof the following: 6 e. An insurance producer owes any duties and 7 responsibilities referred to in this subsection only 8 to the policy owner, a person in privity of contract 9 with the insurance producer, and the principal in an 10 agency relationship with the insurance producer. If a 11 person to whom an insurance producer owes duties and 12 responsibilities is deceased or incapacitated, a direct 13 and specifically identified beneficiary referenced 14 in a written instrument required by the insurer and 15 delivered to the insurance producer prior to the death 16 or incapacity may enforce the insurance producer’s 17 duties and responsibilities. An insurance producer 18 does not owe any duty or responsibility to a person who 19 was a direct and specifically identified beneficiary if 20 the policy owner changes the beneficiary in the manner 21 required by the policy or contract to remove the person 22 as a beneficiary. > 23 2. Title page, line 1, after < to > by inserting 24 < insurance, including > 25 3. Title page, line 2, after < documents > by 26 inserting < and to certain duties, responsibilities, and 27 liabilities of insurance producers > 28 4. By renumbering as necessary. 29 ______________________________ MICHAEL E. GRONSTAL -1- HF504.1735 (3) 86 av/nh 1/ 1 #1. #2. #3. #4.