Section 27-41-28 Particular investments – Bonds, etc., guaranteed or insured by United States under federal law or secured by mortgages on ships, barges, etc. An insurer may invest in bonds, debentures, notes, or other evidences of indebtedness which are: (1) Guaranteed by the United States of America, represented by the Secretary of Commerce acting pursuant […]
Section 27-41-29 Particular investments – Bonds, etc., secured by mortgages or deeds of trust on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or other evidences of indebtedness which are secured by a first mortgage lien or deed of trust upon unencumbered improved real property located in the United States or […]
Section 27-41-3 Investments which may be counted as admitted assets generally; investments and obligations for investments deemed eligible investments under chapter generally; filing with commissioner of certified statements as to investments or obligations for investments not deemed eligible under chapter; assets or funds to which investment limitations based upon amounts of insurers assets or particular […]
Section 27-41-30 Particular investments – Loans, notes, etc., secured by mortgages and leases on real property. An insurer may invest in loans, notes, bonds, or other evidences of indebtedness of any person up to the fair value of real property securing said indebtedness, upon compliance with the following conditions and provisions: (1) The indebtedness must […]
Section 27-41-31 Particular investments – Data processing and accounting systems. An insurer may invest in electronic and mechanical machines constituting a data processing and accounting system if the cost of such system is not less than $10,000.00 and cost for such machines is amortized in full over a period not to exceed 10 calendar years. […]
Section 27-41-32 Particular investments – Investments relating to agricultural property securing evidences of indebtedness held by insurers and subject to mortgage foreclosure or insolvency proceedings. (a) If real property securing any evidence of indebtedness held by an insurer is used for agricultural purposes and a proceeding to foreclose the mortgage or an insolvency proceeding relating […]
Section 27-41-33 Particular investments – Loans on personal property; chattel mortgages. In connection with mortgage loans made under subdivisions (2) and (3) of Section 27-41-29, an insurer may loan on the value of personal property items listed in the Department of Housing and Urban Development Commitment for Insurance or the Veterans Administration Certificates of Reasonable […]
Section 27-41-34 Particular investments – Real estate. (a)(1) An insurer may acquire, invest in, own, maintain, alter, furnish, and improve the following real estate: a. Land and buildings used for home office and branch office purposes, together with such other real estate as is required for the convenient transaction of its business; and b. Funeral […]
Section 27-41-34.1 Particular investments – Oil and gas producing properties and facilities. (a) An insurer may invest in properties and facilities, and any interest and rights in such properties and facilities, for the development and production of fossil or synthetic fuel or other minerals, whether or not the extraction would deplete the surface of such […]
Section 27-41-35 Miscellaneous investments. (a) An insurer may make investments not otherwise expressly permitted by this chapter which may be counted as admitted assets, except as expressly prohibited under Section 27-41-36, provided that: (1) The aggregate of all such investments shall not exceed 10 percent of the insurer’s admitted assets; (2) The insurer’s capital and […]
Section 27-41-36 Prohibited investments; underwriting, etc., of offerings of securities or property. (a) After January 1, 1978, an insurer shall not invest in nor lend its funds upon the security of any note or other evidence of indebtedness of any director, officer, or controlling stockholder of the insurer, except as to policy loans authorized under […]
Section 27-41-37 Investments of mutual aid associations – Generally. (a) The funds of a mutual aid association shall be in cash or shall be invested as provided in Sections 27-41-3 through 27-41-36 and Section 27-41-38 as applicable to life insurers, except that: (1) Funds of the association to the extent of its reserve liabilities resulting […]
Section 27-41-38 Investments of mutual aid associations – Funeral supply inventories and funeral equipment. In addition to other investments permitted under this chapter, mutual aid associations may invest in funeral supply inventories, consisting of caskets, suits, robes, dresses, and embalming supplies, and funeral equipment, consisting of automobiles, hearses, ambulances, funeral cars, and other motor vehicle […]
Section 27-41-39 Investments of foreign and alien insurers; cash equivalents. (a) The investments of a foreign or alien insurer shall be as permitted by the laws of its domicile, but shall be of a quality and diversity substantially equivalent to that required of like domestic insurers under this chapter. (b)(1) Cash equivalents are exempt from […]
Section 27-41-4 General requirements as to eligibility of investments. No investment (other than in common stocks allowed under Section 27-41-17, in insurance stocks allowed under Section 27-41-18, in loans or investments allowed under Section 27-41-35, in real property allowed under Section 27-41-34, or in funeral supply inventories and equipment allowed under Section 27-41-38) shall be […]
Section 27-41-40 Effect of failure to dispose of real estate, personal property, securities, etc., within prescribed period of time. Any real estate, personal property, securities, or other investment lawfully acquired and held by an insurer shall not be allowed as an admitted asset of the insurer after expiration of the period for disposal thereof or […]
Section 27-41-41 Only eligible investments to be counted as admitted assets; treatment of investments partially qualifying as eligible investments. Except as expressly prohibited in Section 27-41-36, an insurer may make any investment without limit as to kind, time, or amount, but only eligible investments shall be included or counted as admitted assets of the insurer […]
Section 27-41-5 Authorization of investments by board of directors, etc. An insurer shall not make any investment or loan exceeding 10 percent of the admitted assets of the insurer, other than loans on policies or annuity contracts, unless authorized, approved, or ratified by the board of directors of the insurer or by the committee or […]
Section 27-41-6 Limitations upon investments generally. (a) An insurer shall not have at any one time any single investment or combination of investments in or loans upon the security of the obligations, property, or securities of any one person aggregating in cost to the insurer in excess of the greater of 10 percent of such […]
Section 27-41-7 Particular investments – Bonds, notes, etc., of United States. An insurer may invest in bonds, notes, warrants, debentures, and other evidences of indebtedness which are direct obligations of the United States of America for which the full faith and credit of the United States of America is pledged for the payment of principal […]
