(a) An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed:
(1) For medium and lower grade investments, 20 percent of admitted assets;
(2) For lower grade investments, 10 percent of admitted assets;
(3) For investments rated 5 or 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14, 5 percent of admitted assets; or
(4) For investments rated 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14, 1 percent of admitted assets.
(b) The aggregate amount of special rated credit instruments held by an insurer pursuant to the valuation procedures of Code Section 33-10-14 shall not exceed 10 percent of admitted assets.
Section: Previous 33-11-54 33-11-55 33-11-56 33-11-57 33-11-58 33-11-59 33-11-60 33-11-61 33-11-62 33-11-63 33-11-64 33-11-65 33-11-66 33-11-67 NextLast modified: October 14, 2016