SF 2288: Relating to life insurance company or association investments in foreign countries other than Canada, and including applicability provisions

What it does

8, if the aggregate amount of foreign investments held by the company or association does not exceed percent of the company’s or association’s legal reserve, does not exceed percent of the company’s or association’s legal reserve if the foreign jurisdiction has a sovereign debt rating of SVO 1, and for all other foreign jurisdictions does not exceed percent of the legal reserve.8 for purposes of determining compliance with any limitations under those subsections. Under current law, companies and associations may invest in bonds or other evidences of indebtedness, not to include currency, issued, assumed, or guaranteed by a foreign government other than Canada, or by a corporation incorporated under the laws of a foreign government other than Canada.

Lobbying · 2 for, 0 against

For: Federation of Iowa Insurers; Iowa Insurance Associates

In plain words

1. February 16, 2022Filed in the Senate
2. February 16, 2022Approved by the Senate committee
3. February 21, 2022Passed the Senate, 49–0
4. March 10, 2022Took the place of HF 2219 on the House floor (the same legislation)
5. March 10, 2022Passed the House, 92–0
6. April 21, 2022Sent to the Governor
7. April 21, 2022Signed into law