Amends TCA Title 56, Chapter 3, Part 4.
Tennessee SB0696 amends Title 56, Chapter 3, Part 4 of the Tennessee Code Annotated to increase the investment limits for domestic insurance companies. Specifically, it raises the allowable percentage for investments in foreign securities from 1% to 20% of admitted assets and for loans and investments from 5% to 10% of admitted assets. Additionally, the bill permits domestic insurance companies to invest in specified money market funds, enhancing their investment options.
Tennessee SB0696 amends Title 56, Chapter 3, Part 4 of the Tennessee Code Annotated to increase the investment limits for domestic insurance companies. Specifically, it raises the allowable percentage for investments in foreign securities from 1% to 20% of admitted assets and for loans and investments from 5% to 10% of admitted assets. Additionally, the bill permits domestic insurance companies to invest in specified money market funds, enhancing their investment options.
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