§36-1618. Obligations of receivers or trustees; investments not
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/ok/title-36-insurance/36-1618·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
otherwise authorized; limitations.
A. An insurer may invest in certificates, notes or other obligations issued by trustees or receivers of any institution created or existing under the laws of the United States or of any state, district or territory thereof, which, or the assets of which, are being administered under the direction of any court having jurisdiction, if such obligation in the opinion of the Insurance Commissioner is adequately secured as to principal and interest.
B. An insurer may make loans or investments not otherwise qualifying or permitted under this article to an amount not exceeding in the aggregate ten percent (10%) of the insurer's assets, and not exceeding one percent (1%) of such assets as to any one such loan or investment. But no such loan or investment shall be represented by:
1. Any item described in Section 1503 of this title, or any loan or investment otherwise specifically prohibited;
2. Any loan or investment eligible under any other provision of this article; or
3. Any asset theretofore acquired or held by the insurer under any other category of loans or investments eligible under this article. The insurer shall keep a separate record of all loans and investments made under this subsection. Added by Laws 1957, p. 289, § 1618, emerg. eff. May 27, 1957. Amended by Laws 2022, c. 13, § 1, emerg. eff. April 19, 2022.