SB 349 - This act allows insurers to invest up to 35% of their assets in investment pools. An insurer is limited to placing 10% of its assets in any one pool.

An investment pool may not acquire securities issued by the insurer, nor may a pool allow more than 10% of its assets to be invested in or purchased from one business entity. Certain types of borrowing transactions are allowed by the pools. Requirements are imposed for investment pool managers, detailed accounting records and pooling agreements.

MIKE HOEFERKAMP