Bill > S640

This bill amends the General Laws of Massachusetts to modify the requirements for insurance companies to invest in certain types of bonds, notes, evidences of indeduction, or contractual obligations. The key provisions allow insurance companies to invest in bonds, notes, and other debt instruments that are initially rated as NAIC 1 or NAIC 2 (the highest ratings from the National Association of Insurance Commissioners), or that are provisionally rated as NAIC 1Z or NAIC 2Z. The bill also allows insurance companies to invest in certain exchange-traded funds (ETFs) that meet specific criteria, such as having at least $100 million in net assets and being registered with the SEC. However, the bill prohibits investments in leveraged or inverse ETFs that do not track the full unlevered and positive return of the underlying index or exposure.

Business and Industry, Health and Social Services

https://malegislature.gov/Bills/193/S640