MS SB2732

Adds new subsection (g) allowing domestic insurance companies to invest in bonds, debentures, notes, or stock issued by solvent institutions domiciled outside the United States, with a 20% limit on total foreign investments and a 10% limit for life insurance companies in any single foreign corporation.

Authorizes the Insurance Commissioner to disallow any foreign investments by domestic insurance companies after notice and hearing if good cause is shown.

Amends subsection (3) to permit domestic insurance companies to invest up to 10% of admitted assets in common shares of corporations created under the laws of nations other than the United States, subject to Commissioner approval authority.

Maintains existing conflict of interest restrictions prohibiting officers and directors from holding more than 10% interest in companies where the insurance company acquires stock, and prohibiting officers and directors from deriving profit from stock transactions.

Becomes effective upon passage.