Bill > H6315

This bill repeals Section 27-11.1-3 of the Rhode Island General Laws, which currently restricts domestic insurance companies from investing more than 10% of their admitted assets in Schedule BA assets. Schedule BA is a section of an insurance company's annual financial statement that includes miscellaneous or less conventional investments such as oil and gas production payments, transportation equipment, timber deeds, mineral rights, motor vehicle trust certificates, and other investments that do not clearly fit into standard investment categories. By eliminating this 10% limitation, the bill would give insurance companies more flexibility in allocating their assets across these diverse investment types. The bill would take effect immediately upon passage, allowing insurance companies to potentially expand their investment strategies beyond the current restrictive percentage cap.

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