2097‑S AAS 4/18/97

SHB 2097 - S AMD ‑ 453

    BySenators Heavey and Winsley

                                                   ADOPTED 4/18/97

    On page 1, line 12, after "insurance commissioner;" insert (b) Derivative instruments shall not be used for speculative purposes, but only as stated in subsection (1)(a);"

    Renumber the sections consecutively and correct any internal references accordingly

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EFFECT: Clarifies that insurance companies can only invest in derivatives for non-speculative purposes.