§ 20-531 – Scope of article
20-531. Scope of article Except as to section 20-559, this article applies to domestic insurers only. This article shall apply to domestic title insurers except as provided in article 9 of chapter 6 of this title.
§ 20-532 – Eligible investments
20-532. Eligible investments A. Insurers shall invest in or loan their funds on the security of, and shall hold as assets, only eligible investments as prescribed in this article. B. Any particular investment that was held by an insurer on January 1, 1955, that was a legal investment at the time it was made and […]
§ 20-533 – Qualification of securities or property as eligible investments
20-533. Qualification of securities or property as eligible investments A. No security or investment, other than real and personal property acquired pursuant to section 20-556, shall be eligible for acquisition unless it is interest bearing or interest accruing or dividend or income paying, is not then in default as to principal or interest and the […]
§ 20-534 – Approval of investment
20-534. Approval of investment No investment or loan shall be made by an insurer unless it has been authorized or approved by the insurer’s board of directors or by a committee authorized thereby and charged with the duty of supervising or making such investment or loan. The minutes of any such committee shall be recorded […]
§ 20-535 – Limitation on percentage of assets invested with single person; exception
20-535. Limitation on percentage of assets invested with single person; exception An insurer shall not, except with the consent of the director, have at any one time any combination of investments in or loans upon the security of the obligations, property or securities of any one person, institution, corporation or municipal corporation, aggregating any amount […]
§ 20-536 – Investments; type; limitations
20-536. Investments; type; limitations A. Every insurer may invest and maintain invested funds in cash and in the securities and investments described in this article without limitation unless a limitation for the securities and investments is otherwise prescribed in this article. B. Except with the director’s consent, an insurer shall not have invested at any […]
§ 20-536.01 – Separate accounts
20-536.01. Separate accounts A. Except as may be provided with respect to reserves for guaranteed benefits referred to in section 20-651, subsection C, amounts allocated to any separate account established pursuant to section 20-651 and accumulations thereon may be invested and reinvested in any class of investments, having due regard for the kind of investments […]
§ 20-537 – Investment of funds in United States obligations; accounting
20-537. Investment of funds in United States obligations; accounting A. An insurer may invest any of its funds in: 1. Bonds or other evidences of indebtedness of the United States or any of its agencies or instrumentalities when such obligations are guaranteed as to principal and interest by the United States or any agency or […]
§ 20-538 – Securities of states, territories, counties, municipalities, school districts, political subdivisions, public districts or civil divisions thereof
20-538. Securities of states, territories, counties, municipalities, school districts, political subdivisions, public districts or civil divisions thereof An insurer may invest any of its funds in bonds or other evidences of indebtedness not in default as to principal or interest, which are valid and legally authorized securities or obligations issued, assumed, or guaranteed by the […]
§ 20-539 – Federally guaranteed loans
20-539. Federally guaranteed loans An insurer may invest any of its funds in loans guaranteed as to principal and interest by the United States or by any agency or instrumentality thereof, to the extent of such guaranty.
§ 20-540 – Governmental revenue bonds and obligations; limitation; definitions
20-540. Governmental revenue bonds and obligations; limitation; definitions A. An insurer may invest in bonds, notes or evidences of indebtedness of any state, any political subdivision of a state or any political subdivision of the United States that are payable from revenues or earnings specifically pledged for the payment of the principal and interest on […]
§ 20-541 – Improvement district obligations
20-541. Improvement district obligations An insurer may invest in bonds, notes or evidences of indebtedness issued by any local improvement district in this or any other state to finance local improvements authorized by law, if the principal and interest of such obligations is payable from assessments on real property within such local improvement district. No […]
§ 20-543 – Acceptances and bills of exchange
20-543. Acceptances and bills of exchange An insurer may invest in bank and bankers’ acceptances and other bills of exchange of the kind and maturity made eligible pursuant to law for purchase in the open market by federal reserve banks.
§ 20-544 – Corporate obligations
20-544. Corporate obligations An insurer may invest in bonds, debentures, notes, commercial paper and other evidences of indebtedness issued, assumed or guaranteed by any solvent institution created or existing under the laws of the United States or of any state, district or territory of the United States, which are not in default as to principal […]
§ 20-545 – Preferred, guaranteed or preference stock
20-545. Preferred, guaranteed or preference stock An insurer may invest in preferred, guaranteed or preference stocks or shares of any solvent institution created or existing under the laws of the United States or of any state, district or territory of the United States if those preferred, preference or guaranteed stocks or shares have received an […]
§ 20-546 – Common stocks
20-546. Common stocks An insurer may invest in nonassessable, except for taxes or wages, common stocks or shares of any solvent institution, created or existing under the laws of the United States or of any state, district or territory of the United States.
§ 20-547 – Equipment trust certificates
20-547. Equipment trust certificates An insurer may invest in equipment trust obligations or certificates which in the opinion of the director are adequately secured, or other instruments so secured and evidencing an interest in transportation equipment, wholly or in part within the United States, which carry the right to receive determined portions of rental, purchase […]
§ 20-548 – Obligations of receivers or trustees
20-548. Obligations of receivers or trustees 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 […]
§ 20-549 – Investments not otherwise authorized; limitations; appraisal; cost
20-549. Investments not otherwise authorized; limitations; appraisal; cost A. An insurer may make loans or investments not otherwise qualifying or permitted under this article in an amount not exceeding in the aggregate ten per cent of the insurer’s assets, and not exceeding two per cent of such assets as to any one such loan, investment […]
§ 20-550 – Policy loans
20-550. Policy loans A life insurer may lend to its policyholder upon pledge of the policy as collateral security a sum not exceeding the applicable cash surrender value specified in the policy.