North Carolina Governor Signs Bill to Eliminate Investment Loophole

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North Carolina Governor Signs Bill to Eliminate Investment Loophole
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North Carolina’s governor signed legislation aimed at avoiding a repeat of an unusual investment strategy used by entrepreneur Greg Lindberg

North Carolina’s governor signed legislation aimed at avoiding a repeat of an unusual investment strategy used by an entrepreneur to load his insurers with at least $2 billion of debt owed by other businesses in his conglomerate.

Gov. Roy Cooper signed the legislation Friday. The law restricts any insurer from investing more than 10% of its assets in affiliated ventures.

 

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