§ 557. Securities of merged or reorganized institutions
In applying the earnings test set forth in section 556 of this title to any such institution, whether or not in legal existence during the whole of such five years next preceding the date of investment by the insurer, which has at any time during the five-year period acquired substantially all of the assets of […]
§ 558. Preferred or guaranteed stocks
(a) An insurer may invest any of its funds, in an aggregate amount not exceeding 10 percent of its assets, if a life insurer, or not exceeding 15 percent of such assets if other than a life insurer, in preferred or guaranteed stocks or shares, other than common stocks, of solvent institutions existing under the […]
§ 559. Trustees’ or receivers’ obligations
An insurer may invest any of its funds, in an aggregate amount not exceeding 2 percent of its assets, in certificates, notes, or other obligations issued by trustees or receivers of institutions, existing under the laws of the United States or of any jurisdiction of the United States, which, or the assets of which, are […]
§ 560. Equipment trust certificates
An insurer may invest any of its funds, in an aggregate amount not exceeding 10 percent of its assets, in equipment trust obligations or certificates which are adequately secured, or in other adequately secured instruments evidencing an interest in transportation equipment wholly or in part within the United States and the right to receive determined […]
§ 561. Mortgages, mortgage bonds, notes, contracts
An insurer may invest any of its funds in: (1) bonds or evidences of debt which are secured by first mortgages or deeds of trust on improved unencumbered real property located in the United States; (2) chattel mortgages in connection therewith pursuant to section 565 of this title; (3) the equity of the seller of […]
§ 562. Mortgage loans limited by property value
(a) No mortgage loan or investment therein upon any one parcel of real property shall exceed in amount at the time of acquisition: (1) seventy-five percent of the fair value of the property if the property is a dwelling house primarily intended for occupancy by one family and the loan is required to be amortized […]
§ 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 […]
§ 564. Appraisal of property; insurance; limit of loan
(a) The fair value of property shall be determined by appraisal by a competent appraiser at the time of the making or acquiring of a mortgage loan or investing in a contract for the deed thereon, except, that as to bonds or notes secured by mortgage or trust deed guaranteed or insured by the Federal […]
§ 555. Corporate obligations
An insurer may invest any of its funds in obligations other than those eligible for investment under section 561 of this title if they are issued, assumed, or guaranteed by any solvent institution created or existing under the laws of the United States or of any jurisdiction of the United States, and are qualified under […]
§ 551. Eligible investments
(a) Domestic insurers shall invest in or loan their funds on the security of, and shall hold as assets, only eligible investments as prescribed in this chapter. (b) Any particular investment of a domestic insurer held by it on the effective date of this title and which was a legal investment immediately prior thereto, shall […]