IL SB3382

Prohibits domestic insurers from acquiring investments related to foreign jurisdictions designated as state sponsors of terrorism by the U.S. Secretary of State.

Applies the prohibition to investments respecting a foreign jurisdiction or investments denominated in the currency of a state sponsor of terrorism.

References terrorism designations made under section 6(j) of the Export Administration Act, section 40 of the Arms Export Control Act, and section 620A of the Foreign Assistance Act.

Amends Section 126.3 of the Illinois Insurance Code regarding general investment qualifications for insurers.