The beginning of the end for STOLI came in December 2005, when the New York State Insurance Department released a General Counsel Opinion that STOLI-type arrangements violated insurable interest laws. This ruling had significant impact on the STOLI industry. State legislatures began passing anti-STOLI legislation that would make it easier to enforce insurable interest laws. Insurers — many of whom either ignored, supported, or were oblivious to these transactions — “got religion.” That is, they implemented underwriting procedures intended to detect and prevent STOLI transactions.