HB19-1043
Life Care Institutions Post Surety Bond As Reserve
Concerning the ability of life care institutions to post a surety bond as a form of required reserve.
Session:
2019 Regular Session
Subject:
Bill Summary
Financial Services & Commerce
Life care institutions - reserve requirement - surety bond option. Current law requires life care institutions to maintain reserves through 1 or more of several options that all require liquidity. The act allows a surety bond as a type of allowable reserve.
(Note: This summary applies to this bill as enacted.)