This bill amends provisions related to insurance funds.
This bill:
- defines terms;
- clarifies the circumstances under which a public agency insurance mutual or a reserve fund is exempt from the Insurance Code;
- exempts a public agency insurance mutual from the State Money Management Act;
- authorizes a public agency insurance mutual or reserve fund to create one or more captive insurance companies;
- establishes requirements for the state treasurer handling a public agency insurance mutual's or reserve fund's investments;
- provides that the state treasurer shall invest the funds of a reserve fund; and
- makes technical changes.
Recommended by: Business and Labor Interim Committee

Statutes affected:
Introduced: 11-13-103, 11-13-502, 51-7-2, 51-7-11
Substitute #1: 11-13-103, 11-13-502, 31A-1-103, 51-7-2, 51-7-11
Substitute #2: 11-13-103, 11-13-502, 31A-1-103, 51-7-2, 51-7-11
Enrolled: 11-13-103, 11-13-502, 31A-1-103, 51-7-2, 51-7-11
Substitute #3: 11-13-103, 11-13-502, 31A-1-103, 51-7-2, 51-7-11