§ 23-63-828. Real estate
An insurer may invest in real estate only if used for the purposes or acquired in the manner and within the limits as follows: (1) The land and the buildings thereon in which it has its principal office and such other real estate as shall be requisite for its convenient accommodation in the transaction of […]
§ 23-63-829. Time limit for disposal of real estate
(a) Except as stated in subsection (c) of this section, the insurer shall dispose of real estate acquired under § 23-63-828(1) within five (5) years after it has ceased to be necessary for the convenient accommodation of the insurer in the transaction of its business. (b) Except as stated in subsection (c) of this section, […]
§ 23-63-814. Corporate bonds and debentures
(a) An insurer may invest in bonds, debentures, notes, and other evidences of indebtedness issued, assumed, or guaranteed by any solvent institution existing under the laws of the United States or of Canada, or any state or province thereof, which are not in default as to principal or interest and which are secured by collateral […]
§ 23-63-830. Time limit for disposal of other ineligible property and 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 the acquisition shall be disposed of within three (3) years from the date of acquisition, unless within that period the security has attained the status of eligibility. […]
§ 23-63-815. Preferred or guaranteed stock
(a) An insurer may invest in preferred or guaranteed stocks or shares of any solvent institution existing under the laws of the United States or of Canada, or of any state or province thereof, if at the date of the acquisition of the investment by the insurer: (1) The net earnings of the institution available […]
§ 23-63-831. Failure to dispose of real estate, property, or securities
(a) Any real estate, personal property, or securities lawfully acquired and held by an insurer after expiration of the period for disposal thereof, or any extension of the period granted by the Insurance Commissioner as provided in § 23-63-829 or § 23-63-830, or any investments otherwise lawful which are in excess of the aggregate amount […]
§ 23-63-816. Common stocks
An insurer may invest in nonassessable, except for taxes and wages, common stocks other than insurance stocks of solvent United States or Canadian corporations that qualify as a sound investment.
§ 23-63-832. Special investments by title insurer
(a) (1) In addition to other investments eligible under this subchapter, a title insurer may invest and have invested an amount not exceeding fifty percent (50%) of its paid-in capital stock in its abstract plant and equipment and, with the Insurance Commissioner’s consent, in stocks of abstract companies. (2) If the insurer transacts kinds of […]
§ 23-63-801. Applicability
Except as to § 23-63-835, the provisions of this subchapter shall apply to domestic insurers only.
§ 23-63-802. Eligible investments
(a) Insurers shall invest in, or lend their funds on the security of, and shall hold as invested assets only eligible investments as prescribed in this subchapter. (b) Any particular investment held by an insurer on January 1, 1960, and which was a legal investment at the time it was made, or which the insurer […]