1.1.................... moves to amend H.F. No. 2853 as follows:
1.2Page 14, after line 4, insert:

1.3    "Sec. 5. Minnesota Statutes 2012, section 60A.0789, subdivision 3, is amended to read:
1.4    Subd. 3. Declaratory judgment action. If, prior to payment of death benefits, the
1.5insurer believes the policy was initiated by STOLI practices, the insurer may bring a
1.6declaratory judgment action seeking a court order declaring the policy void.
1.7(b) A life insurance policy owner, who believes in good faith that the insurer may
1.8challenge the policy for lack of insurable interest, may bring a declaratory judgment action
1.9seeking a court order declaring the policy valid.
1.10(c)The right of a life insurance policy owner to bring a declaratory judgment action
1.11applies only to policies issued in Minnesota prior to the effective date of the Insurable
1.12Interest Act and that have a death benefit equal to or greater than one million dollars. Only
1.13the owner of record of a life insurance policy on the effective date of this section may
1.14bring a declaratory judgment action under this section.
1.15EFFECTIVE DATE.This section is effective the day following final enactment
1.16and shall sunset on December 31, 2016."
1.17Renumber the sections in sequence and correct the internal references
1.18Amend the title accordingly