IL SB2662

Amends the Farm Mutual Insurance Company Act of 1986 to expand permitted investments for farm mutual insurance companies regulated in Illinois.

Allows investments in bonds from any state (not just Illinois) up to a maximum of 30% of admitted assets in states other than Illinois.

Increases the maximum investment limit in balanced or growth mutual funds from 3% to 6% of policyholders' surplus.

Increases the aggregate limit for stock investments (mutual funds and common/preferred stock combined) from 10% to 15% of policyholders' surplus.

Adds a new provision allowing amounts exceeding investment limitations in items (2) through (9), subject to a maximum of 3% per issuer and 6% in aggregate of admitted assets.