Minnesota Session Laws - 1993, Regular Session

  
    Laws of Minnesota 1993 

                         CHAPTER 70-S.F.No. 568 
           An act relating to insurance; nonprofit health service 
          plan corporations; regulating investments; amending 
          Minnesota Statutes 1992, section 62C.10.  
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1992, section 62C.10, is 
amended to read: 
    62C.10 [INVESTMENT.] 
    Funds of a corporation subject to Laws 1971, chapter 568 
this chapter shall be invested only in securities and property 
designated by law for investment by domestic life insurance 
companies.  Notwithstanding any limitations set forth in chapter 
61A, an organization which has received a certificate of 
authority from the commissioner to operate under this chapter 
only for the provision of prepaid dental plans may invest up to 
20 percent of its admitted assets in subsidiary corporations 
whose business is the arrangement for, management of, or 
provision of dental services.  Any amounts so invested in 
subsidiary corporations shall, for purposes of section 62C.09, 
be added to the minimum and maximum reserve requirements as 
calculated for a service plan corporation. 
    Presented to the governor April 29, 1993 
    Signed by the governor April 30, 1993, 3:22 p.m.