An insurer investing under this chapter that is doing business that requires the insurer to make payment in different currencies shall have investments in securities in each of these currencies in an amount that, independent of all other investments, meets the requirements of this chapter, as applied separately to the insurer's obligations in each currency. The superintendent may, by order, exempt an insurer, or, by rule, a class of insurers, from this requirement if the obligations in other currencies are small enough that no significant problem for financial solidity would be created by substantial fluctuations in relative currency values.
Added by 130th General Assembly File No. TBD, SB 140, ยง1, eff. 9/4/2014.
Section: Previous 3906.02 3906.03 3906.04 3906.05 3906.06 3906.07 3906.08 3906.09 3906.10 3906.11 3906.12 3906.13 3906.14 3906.15 NextLast modified: October 10, 2016