58-27-6. Time of investment limitation based on amount of insurer's admitted assets, risk based capital, or capital and surplus. Unless otherwise specified, any investment limitation based upon the amount of the insurer's admitted assets, risk based capital, or capital and surplus, shall relate to such admitted assets, risk based capital, or capital and surplus as shown by the insurer's annual statement as of the December thirty-first next preceding date of acquisition of the investment by the insurer, or as shown by a current financial statement filed with the director. For purposes of computing any limitation based upon admitted assets, the insurer shall deduct the following to the extent included in the insurer's admitted assets, from the amount of its admitted assets:
(1) Collateral received in a reverse repurchase transaction or a securities lending transaction;
(2) Cash received in a dollar roll transaction; and
(3) The assets in any separate accounts maintained by the insurer.Source: SL 1966, ch 111, ch 6, § 2 (4); SL 1997, ch 294, § 3.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.