2025 bills / S.B. 49
S.B. 49 Insurance Investment Amendments (2025)
- Introduced
- Senate committee
- Senate vote
- House committee
- House vote
- Signed into law
What this bill does
AI summary from the official description
The bill would replace Utah's existing insurance investment law with a new chapter. Insurers would have to follow a written investment policy, limit the kinds of investments they make, and face state insurance regulator oversight, reporting rules, and orders on investment practices.
About this summary
Quotes come from the official recordings' automatic captions, and plain-English summaries are written by AI from the official record. A person reviews them, but always check the recording before quoting anyone; every quote links to its moment in the video.
Check the official text below.
Official description
- repeals the existing chapter dealing with insurance investments
- defines terms
- establishes a minimum financial security benchmark for insurers
- describes the authorized investments an insurer may make
- establishes prudence evaluation criteria
- requires that an insurer establish and follow a written investment policy
- describes the authorized classes of investments an insurer may make
- establishes the limitation of classes of investments
- requires that an insurer doing business in different currencies have securities in each currency that meet the requirements of this chapter
- prohibits an insurer from making certain types of investments
- establishes the effect of investment restrictions on insurers
- provides insurers guidelines for the required reports and replies under this chapter
- authorizes the commissioner to retain experts when analyzing an insurer's investments
- authorizes the commissioner to issue orders regarding an insurer's investment practices
- describes how a commissioner should conduct an administrative hearing under this chapter
- exempts an investment policy subject to this chapter from the definition of "record" under the Government Records Access and Management Act
- provides the circumstances under which this chapter prevails over any conflicting statute that relates to insurance investments
- grants the commissioner rulemaking authority regarding insurance investments
Your legislators on this bill
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Take action
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What members get
- An alert the day S.B. 49 is put on a committee agenda, with time and room, so you can be there to speak
- When S.B. 49 is rewritten, exactly which words changed
- Its hearings in your own calendar
- Your own scorecard: pick the side you favor and see how every legislator voted
Every vote
- 5 yes, 0 no, 3 absentSenate Business and Labor Committee: Amendment Recommendation · Jan 22, 2025Who voted how
- 5 yes, 0 no, 3 absentSenate Business and Labor Committee: vote to approve it · Jan 22, 2025Who voted how
- 28 yes, 0 no, 1 absentFirst of two Senate votes · Jan 23, 2025Who voted how
- 25 yes, 0 no, 4 absentFinal Senate vote · Jan 27, 2025Who voted how
- 14 yes, 0 no, 2 absentHouse Business, Labor, and Commerce Committee: vote to approve it · Feb 5, 2025Who voted how
- 71 yes, 0 no, 4 absentFinal House vote · Feb 12, 2025Who voted how