WILLIAM DONALD SCHAEFER, Governor Ch. 704

DISTRICT OF COLUMBIA, OR ANY TERRITORY OR POSSESSION OF THE
UNITED STATES OF AMERICA, PROVIDED THAT;

(I)  TO THE EXTENT NECESSARY TO SATISFY THE
RESERVE REQUIREMENTS OF THIS SECTION, AN INSURER MAY NOT INVEST
MORE THAN:

1.  10 PERCENT OF ITS TOTAL ADMITTED
ASSETS IN PREFERRED STOCK UNDER PARAGRAPH (3) OF THIS SECTION;
AND

2.  10 PERCENT OF ITS TOTAL ADMITTED
ASSETS IN COMMON STOCK UNDER THIS PARAGRAPH; AND

(II)  AN INSURER MAY NOT INVEST MORE THAN 5
PERCENT OF ITS TOTAL ADMITTED ASSETS IN THE STOCK OR SHARE OF ANY
ONE CORPORATION.

(II) TO THE EXTENT NECESSARY TO SATISFY THE
REQUIREMENTS FOR MINIMUM CAPITAL AND RESERVE INVESTMENTS, AS
REQUIRED IN §§ 102 AND 103 OF THIS SUBTITLE, AN INSURER MAY NOT
BE ALLOWED MORE THAN:

1. 10 PERCENT OF ITS TOTAL ADMITTED

ASSETS IN PREFERRED STOCKS;

2. 10 PERCENT OF ITS TOTAL ADMITTED

ASSETS IN COMMON STOCKS; AND

3. 5 PERCENT OF ITS TOTAL ADMITTED ASSETS
IN THE STOCK OR SHARE OF ANY ONE CORPORATION.

(13) ANY OTHER INVESTMENTS NOT OTHERWISE PROHIBITED
BY THE PROVISIONS OF THIS SUBTITLE, EXCEPT THAT:

(I)  THE AGGREGATE COST AMOUNT OF THE
INVESTMENTS MADE UNDER THIS PARAGRAPH MAY NOT EXCEED 4 PERCENT
OF THE AMOUNT OF THE ADMITTED ASSETS OF THE INSURER AT THE
PREVIOUS YEAR'S END; AND

(II)  ANY INVESTMENT MADE UNDER THIS PARAGRAPH
MAY NOT VIOLATE ANY LIMITATIONS ON PERMITTED INVESTMENTS UNDER
THIS SECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 25, 1989.

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