SCS/HB 1739 - This act adds federal home loan banks to the list of financial institutions in which life insurance companies may invest. This act also requires the Department of Insurance to promulgate regulations governing the valuation of life insurance policies. The Department of Insurance may adopt the "Valuation of Life Insurance Policies Model Regulation" adopted by the National Association of Insurance Commissioners. This regulation governs the required amounts of reserves that an insurance company must maintain to ensure that it has the resources to pay future life insurance claims. This provision has an emergency clause.

This portion of the act is similar to SB 912, SB 808, HB 1352 and HCR 10 (2000).
STEPHEN WITTE