SB3266 Summary

• Amends the Illinois Insurance Code Section 126.3 to prohibit 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 U.S. designations made pursuant to Section 6(j) of the Export Administration Act, Section 40 of the Arms Export Control Act, and Section 620A of the Foreign Assistance Act.