20-551. Investments or deposits in financial institutions A. An insurer may invest or deposit any of its funds in share, checking or savings accounts, in certificates of deposit or in any other deposit or account in solvent banks or in foreign branches of such banks, credit unions or savings and loan associations which are insured […]
20-552. Foreign securities A. An insurer may make investments in securities of or in a foreign country possessing characteristics and of a quality similar to those required pursuant to this article for investments in the United States. B. After giving effect to an investment in securities of or in a foreign country, the aggregate amount […]
20-552.01. Canadian investments; definition A. An insurer may make investments in securities of or in Canada possessing characteristics and of a quality similar to those required pursuant to this article for investments in the United States. B. Subject to subsections C, D and E of this section, an insurer shall not acquire, directly or indirectly […]
20-553. Mortgages on real estate; definitions A. An insurer may invest any of its funds in bonds, notes or other evidences of indebtedness that are secured by first mortgages or deeds of trust on improved, unencumbered real property located in the United States, or that are secured by first mortgages or deeds of trust on […]
20-554. Purchase money mortgages An insurer may invest in purchase money mortgages or like securities, received by it upon the sale or exchange of real property theretofore owned by it.
20-555. Security agreements; definition A. In connection with a mortgage loan on the security of real property designed and used primarily for residential purposes only, which mortgage loan was acquired pursuant to section 20-553, an insurer may lend or invest an amount not exceeding twenty per cent of the amount loaned on or invested in […]
20-556. Real property An insurer, including for the purposes of this section a reciprocal insurer, may invest in real property only if acquired or used for the following purposes and in the following manner: 1. The land and the building thereon in which it has its principal office, and such other real property as shall […]
20-557. Second mortgages A. An insurer may invest in bonds, notes or other evidences of indebtedness that are secured by second mortgages or deeds of trust on improved real property located in the United States. An insurer shall not make or acquire either: 1. A loan or investment if the total of the outstanding indebtedness […]
20-558. Investment company or trust; mutual funds An insurer may invest in the securities of any open end management type investment company, investment trust or mutual fund registered with the United States securities and exchange commission or in a common trust fund of a bank regulated by a federal or state agency within the limitations […]
20-559. Investments of foreign and alien insurers A. Foreign and alien insurers transacting insurance in this state shall have assets of the same general character and quality, and have invested in home office real property as permitted under paragraph 1 of section 20-556, all as specified in this article for domestic insurers, except that other […]
20-560. Derivative transactions; definitions A. An insurer, directly or indirectly through an investment subsidiary, may use derivative instruments to engage in hedging transactions, income generation transactions and replication transactions pursuant to this section. B. An insurer may enter into hedging transactions if, after giving effect to such transactions, all of the following apply: 1. The […]
20-561. Collateral loans A. An insurer may lend its funds in negotiable promissory notes on the pledge of any investment that qualifies under this article, other than real property. The insurer shall not make a loan that is more than seventy-five per cent of the market value of the collateral pledged. The loan documents shall […]
20-562. Insurer investments; partnerships; limited liability companies; limitations A. An insurer that meets the standards prescribed in subsection B may invest in a partnership or limited liability company interest if the investments held by the partnership or limited liability company, if added to the assets of the insurer in the same proportion as the interests […]
