§ 580. Disposal of ineligible property or securities
(a) Any personal property or securities lawfully acquired by an insurer, which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of by the insurer within one year from date of acquisition, unless within such period the security has attained to the standard […]
§ 581. Authorization of investments
Except for policy loans of a life insurer, no domestic insurer shall sell or exchange any investment or loan unless authorized or approved by its board of directors or by a committee charged by the board of directors or the bylaws with the duty of making such investment, loan, sale or exchange. The minutes of […]
§ 582. Record of investments
(a) As to each investment or loan of the funds of a domestic insurer a written record in permanent form showing the authorization thereof shall be made and signed by an officer of the insurer or by the chairman of such committee authorizing the investment or loan. (b) As to each such investment or loan […]
§ 583. Investments of foreign and alien insurers
The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile but shall be of a quality substantially as high as those required under this chapter for similar funds of like domestic insurers.
§ 570. Savings and share accounts
An insurer may invest or deposit any of its funds in share or savings accounts of savings and loan associations, or in savings accounts of banks, and in any one such institution only to the extent that such an account is insured by the Federal Savings and Loan Insurance Corporation or the Federal Deposit Insurance […]
§ 571. Insurance stocks
(a) An insurer other than a life insurer may invest a portion of its surplus funds in an aggregate amount not exceeding 50 percent of its surplus over its capital stock and other liabilities, or 35 percent of its capital funds, whichever is greater, in the stocks of other insurers organized and existing under the […]
§ 572. Common stocks
(a) After satisfying the requirements of section 576 of this title, an insurer may invest any of its funds in common shares of stock in solvent United States corporations that qualify as a sound investment, except, that as to life insurers such investments shall further not aggregate an amount in excess of 50 percent of […]
§ 573. Collateral loans
An insurer may loan its funds upon the pledge of securities or evidences of debt eligible for investment under this chapter. As at date made, no such loan shall exceed in amount 90 percent of the market value of such collateral pledged, except that loans upon pledges of United States government bonds may be equal […]
§ 574. Miscellaneous investments
(a) An insurer may loan or invest its funds in an aggregate amount not exceeding the lesser of the following sums: 5 percent of its assets, or 50 percent of its surplus over its capital and other liabilities, or if a mutual insurer 50 percent of its surplus over minimum required surplus, in kinds of […]
§ 575. Special consent investments
Upon advance approval of the Commissioner and in compliance with section 552 of this title, an insurer may make any investment or kind of investment or exchange of assets otherwise prohibited or not eligible under any other section of this chapter. The Commissioner’s order of approval if granted shall specify whether the investment or any […]