RS 22:601.17
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/la/title-22/22-2510A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
RS 22:601.17
§601.17. Additional investment authority
A. Any domestic insurer, in addition to the other investments permitted by this Subpart, may invest in an amount equal to twenty-five percent of its capital and surplus if a stock company, and if a company other than stock, twenty-five percent of its surplus, or five percent of its admitted assets, whichever is the greater, in an admitted asset pursuant to this Subpart without regard to the percentage limitations.
B. In addition to the authority provided pursuant to Subsection A of this Section, an insurer may acquire investments not otherwise permitted by this Subpart, and not specifically prohibited by statute, to the extent of not more than five percent of the first five hundred million dollars of the insurer's admitted assets plus ten percent of the insurer's admitted assets exceeding five hundred million dollars. No investment shall be permitted under this Section unless it meets the definition of an asset in the NAIC Accounting Practices and Procedures Manual.
Acts 2021, No. 165, §1, eff. Jan. 1, 2022.