AN ACT relating to investments.
     Create new sections of Subtitle 7 of KRS Chapter 304 to establishment definitions; to establish the manner in which insurers may acquire, hold, or invest investments, or engage in investment practices; to require that the insurer's board of directors adopt, direct, and discharge certain specific duties; to prohibit insurers from participating directly or indirectly in certain specific investment activities; to prohibit insurers from certain investment practices unless prior written approval has been obtained from the commissioner; to permit the commissioner to promulgate administrative regulations; to establish investment practices applicable to life and health insurers of domestic insurers and United States branches of alien insurers entered through this state; to establish investment practices applicable to property and casualty, financial guaranty, and mortgage guaranty insurers, of domestic insurers and United States branches of alien insurers entered through this state; amend KRS 304.7-240 and 304.7-350 to conform; repeal KRS 304.7-020, 304.7-030, 304.7-050, 304.7-060, 304.7-070, 304.7-080, 304.7-085, 304.7-090, 304.7-100, 304.7-110, 304.7-130, 304.7-140, 304.7-145, 304.7-150, 304.7-160, 304.7-170, 304.7-180, 304.7-190, 304.7-200, 304.7-205, 304.7-210, 304.7-220; 304.7-230, 304.7-270, 304.7-290; 304.7-300; and 304.7-310.

     Jan 28-introduced in Senate
     Feb 2-to Banking and Insurance (S)
     Feb 15-reported favorably, 1st reading, to Calendar with committee amendment (1)
     Feb 16-2nd reading, to Rules
     Feb 18-posted for passage in the Regular Orders of the Day for Wednesday, February 23, 2000
     Feb 23-3rd reading, passed 38-0 with committee amendment (1)
     Feb 24-received in House
     Feb 25-to Banking and Insurance (H)
     Mar 1-posted in committee