| SB 0349 | Allows Insurers to Invest Funds In Investment Pools |
| Sponsor: | Curls | |||
| LR Number: | S1377.01I | Fiscal Note: | 1377-01 | |
| Committee: | Insurance and Housing | |||
| Last Action: | 02/10/97 - Referred S Insurance & Housing Committee | Journal page: | S187 | |
| Title: | ||||
| Effective Date: | August 28, 1997 | |||
SB 349 - This act allows insurers to invest up to 35% of their assets in investment pools. An insurer is limited to placing 10% of its assets in any one pool.
An investment pool may not acquire securities issued by the
insurer, nor may a pool allow more than 10% of its assets to be
invested in or purchased from one business entity. Certain types
of borrowing transactions are allowed by the pools. Requirements
are imposed for investment pool managers, detailed accounting
records and pooling agreements.
MIKE HOEFERKAMP