Bills › 88th General Assembly
Where it is now
- Done: IntroducedJanuary 13, 2020
- Done: SubcommitteeJanuary 13, 2020
- Done: Senate committeeJanuary 31, 2020
- Done: Passes the SenateFebruary 24, 202048–0
- Skipped: House committeeSkipped
- Done: Passes the HouseMarch 3, 2020
- Done: To the GovernorMarch 11, 2020
- Done: Signed into lawMarch 12, 2020
SF 2132 became law → The same legislation passed as SF 2132, so this version was set aside. Go to SF 2132 What’s a funnel?
What’s in it
AI summary Life insurance companies use certain financial tools to protect their required cash reserves. This bill expands the definition of the specific types of transactions these companies are allowed to use for that purpose. It updates the rules to include a new standard from the National Association of Insurance Commissioners.1
Read the official explanation
Life insurance companies may invest in, among other things, certain financial instruments used in hedging transactions to satisfy their legal reserve requirements. A maximum of percent of a life insurance company’s legal reserve may be held in the form of securities pledged as collateral in highly effective hedging transactions. 86. This bill modifies the definition of “highly effective hedging transaction” to also include the definition of highly effective hedging transaction contained in the national association of insurance commissioners’ statement of statutory account principles no. _____ 108.
Senate subcommittee
Named January 13, 2020. On January 28, 2020 it recommended passage.
Three legislators hear a bill first and recommend what the committee should do; it’s the best time to weigh in. How to take part
Family tree
88th General Assembly