Common trust funds; mutual funds. An insurer may invest in:
1. A bank’s common trust fund as defined in section 584 of the United States Internal Revenue Code of 1954; and
2. The securities of any open-end management type investment company or investment trust registered with the Securities and Exchange Commission under the Investment Company Act of 1940, as from time to time amended, if such investment company or trust has assets of not less than $25,000,000 at the date of investment by the insurer.
Last modified: February 27, 2006