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TN HB0161
Bill
Status
4/8/2025
Primary Sponsor
Jake McCalmon
Click for details
AI Summary
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Increases the investment limit in Tennessee Code Section 56-3-403(c) from 1% to 20%
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Raises the investment threshold in Section 56-3-402(15) from 5% to 10%
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Authorizes insurance companies to invest in money market funds as defined by federal regulations (17 CFR 270.2a-7), including government money market funds backed by U.S. federal obligations and Class 1 money market funds meeting NAIC reserve requirements
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Requires qualifying money market funds to conform to the NAIC Investment Analysis Office Purposes and Procedures Manual
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Passed March 10, 2025 and approved by Governor Bill Lee on March 26, 2025, taking effect immediately
Legislative Description
AN ACT to amend Tennessee Code Annotated, Title 56, Chapter 3, Part 4, relative to investments by insurance companies.
Insurance Companies, Agents, Brokers, Policies
Last Action
Comp. became Pub. Ch. 71
4/8/2025