SB131 - Allows insurance companies to invest capital, reserves, and surplus in preferred or guaranteed stocks

SB 131

Allows insurance companies to invest capital, reserves, and surplus in preferred or guaranteed stocks

Sponsor:	Loudon
LR Number:	0510S.01T	Fiscal Note:	0510-01
Committee:	Small Business, Insurance & Industrial Relations
Last Action:	7/6/2005 - Signed by Governor	Journal Page:
Title:		Calendar Position:
Effective Date:	August 28, 2005

List of 2005 Senate Bills

Current Bill Summary

SB 131 - This act allows insurance companies to invest capital, reserves and surplus in preferred or guaranteed stocks. The investments must carry at least the second highest designation rating by the National Association of Insurance Commissioners or a nationally recognized rating agency approved by the Department of Insurance. Life insurance company investments in corporations must also meet the requirements of Sections 375.1070 to 375.1075, RSMo, regarding outlines for investing in medium or lower quality institutions.

This act is similar to HB 69 (2005).

STEPHEN WITTE