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House File 2211

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 511.8, subsection 8, paragraph b,
  1  2 subparagraph (2), Code 1995, is amended to read as follows:
  1  3    (2)  Fifty Seventy-five percent of the legal reserve in the
  1  4 securities described in subsection 5 issued by other than
  1  5 public utility corporations.  Fifty percent of the legal
  1  6 reserve in the securities described in subsection 5 issued by
  1  7 public utility corporations.  
  1  8                           EXPLANATION
  1  9    This bill increases the percentage of the legal reserve of
  1 10 a life insurance company which may be invested in certain
  1 11 corporate obligations from 50 to 75 percent.  Corporate
  1 12 obligations to which this limitation applies include
  1 13 obligations of corporations incorporated in the United States
  1 14 and Canada which meet certain statutory requirements and which
  1 15 are not issued by public utility corporations.  
  1 16 LSB 4091HV 76
  1 17 mj/jj/8
     
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