IL SB1328

Amends Section 126.3 of the Illinois Insurance Code to add a new subsection L prohibiting domestic insurers from acquiring investments related to foreign jurisdictions designated as state sponsors of terrorism by the U.S. Secretary of State.

Prohibits acquisition of investments respecting a foreign jurisdiction or investments denominated in the currency of that foreign jurisdiction if the jurisdiction is designated under section 6(j) of the Export Administration Act, section 40 of the Arms Export Control Act, or section 620A of the Foreign Assistance Act.

Applies to all domestic insurers operating in Illinois and their investment activities going forward from the bill's effective date.