§ 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 […]
§ 576. Required investments for capital and reserves
(a) An insurer shall invest and keep invested its funds aggregating in amount, if a stock insurer, not less than 100 percent of its minimum required capital, or if a mutual insurer, not less than 100 percent of its required minimum surplus, in cash or investments eligible in accordance with section 554 of this title […]
§ 577. Investments secured by real estate
An insurer shall not invest or have invested at any one time more than 65 percent of its assets in investments in real estate, real estate contracts, and notes, bonds and other evidences of debt, secured by mortgage on real estate, as described in sections 561 and 566 of this title. Any insurer which, on […]
§ 578. Prohibited investments
In addition to investments excluded under other provisions of this title, an insurer shall not, except with the Commissioner’s approval in advance, invest in or loan its funds upon the security of, or hold— (1) issued shares of its own capital stock, except for the purpose of mutualization in accordance with section 358 of this […]
§ 565. Auxiliary chattel mortgages
(a) In connection with a mortgage loan on the security of real property designed and used primarily for residential purposes only, acquired pursuant to section 561 of this title, an insurer may loan or invest an amount not exceeding 20 percent of the amount loaned on or invested in such real property mortgage, on the […]
§ 566. Real property owned; home office building, etc.
(a) An insurer may own and invest or have invested in its home office and branch office buildings any of its funds in aggregate amount not to exceed 10 percent of its assets unless approved by the Commissioner, or if a mutual insurer not to exceed 10 percent of its assets nor such amount as […]
§ 567. Disposal of real property, time limit
(a) Real property acquired by an insurer pursuant to paragraph (1) of subsection (b) of section 566 of this title shall be disposed of within five years after it has ceased being necessary for the use of the insurer in the transaction of its business. Real property acquired by an insurer pursuant to such loans, […]
§ 568. Foreign securities
(a) An insurer authorized to transact insurance in a foreign country may invest any of its funds, in aggregate amount not exceeding its deposit and reserve obligations incurred in such country, in securities of or in such country possessing characteristics and of a quality similar to those required pursuant to this chapter for investments in […]
§ 569. Policy loans
A life insurer may loan to its policyholder upon the pledge of the policy as collateral security, any sum not exceeding the legal reserve maintained on the policy.
§ 563. “Encumbrance” defined
(a) Real property shall not be deemed to be encumbered within the meaning of section 561 of this title by reason of the existence of: (1) instruments reserving mineral, oil, timber or similar rights, rights of way, sewer rights, or rights in walls; (2) liens for taxes or assessments not delinquent, or liens not delinquent […]