Introduced
by
To revise certain existing restrictions on how the reserve funds of insurance companies may be invested, especially investments in derivative financial instruments.
Referred to the Committee on Insurance and Financial Services
Substitute offered
To replace the previous version of the bill with one recommended by the committee which reported it. The substitute incorporates minor or technical changes resulting from committee testimony and deliberation. These do not affect the its substance as previously described.
The substitute passed by voice vote
Amendment offered
by
To raise the minimum capital and surplus required to allow an insurer to loan or invest their funds from $1 million to $7 million. This mirrors the statutory minimum found elsewhere in the Insurance Code.
The amendment passed by voice vote
Passed in the House 101 to 0 (details)
To revise certain existing restrictions on how the reserve funds of insurance companies may be invested, especially investments in derivative financial instruments. The bill will also raise the minimum capital and surplus required to allow an insurer to loan or invest their funds from $1 million to $7 million. This mirrors the statutory minimum found elsewhere in the Insurance Code.
Substitute offered
To replace the previous version of the bill with a version recommended by the committee which reported it. The substitute incorporates technical changes resulting from committee testimony and deliberation. These changes do not affect the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the Senate 37 to 0 (details)
To revise certain existing restrictions on how the reserve funds of insurance companies may be invested, especially investments in derivative financial instruments. The bill will also raise the minimum capital and surplus required to allow an insurer to loan or invest their funds from $1 million to $7 million. This mirrors the statutory minimum found elsewhere in the Insurance Code.
Passed in the House 100 to 0 (details)
To concur with the Senate-passed version of the bill.
