This chapter may be cited as the "Investments of Insurers Act".
HISTORY: 2002 Act No. 319, Section 2, eff June 3, 2002.
Editor's Note
2002 Act No. 319, Section 1, provides as follows:
"The legislative intent of this chapter is to protect the interests of the insured in this State by promoting insurer solvency and financial strength, to be accomplished through the application of investment standards that facilitate a reasonable balance of the following objectives:
"(1) preserving principal;
"(2) assuring reasonable diversification as to type of investment, issuer, and credit quality; and
"(3) allowing insurers to allocate investments in a manner consistent with principles of prudent investment management to achieve a return adequate to meeting obligations to insureds and financial strength sufficient to cover reasonably foreseeable contingencies."