HB0087

Official summary

Bill Summary - 22LSO-0067 Bill No.: HB0087 Effective: 7/1/2022 12:00:00 AM LSO No.: 22LSO-0067 Enrolled Act No.: HEA No. 0015 Chapter No.: 23 Prime Sponsor: Select Committee on Blockchain, Financial Technology and Digital Innovation Technology Catch Title: Insurance investment amendments. Subject: Domestic insurance company investments. Summary/Major Elements: With respect to domestic insurance companies this act: Allows the domestic insurance company to make investments in foreign jurisdictions and includes definitions and regulations; Expands the type of investments that a domestic insurance company can make and increases the percentage of total assets that can be invested in specific types of investments; Provides a process for an insurer to hold invested assets outside Wyoming if in-state financial institutions do not have adequate technology to support reporting requirements or if a financial institution's fees are cost prohibitive. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.