(a) An insurer may make loans or investments not otherwise expressly permitted under this chapter, in an aggregate amount not over 10% of the insurer's assets, if such loan or investment fulfills the requirements of § 1303 of this title and otherwise qualifies as a sound investment. No such loan or investment shall be represented by:
(1) Any item described in § 1102 (assets not allowed) of this title, or any loan or investment otherwise expressly prohibited;
(2) Agents' balances or amounts advanced to or owing by agents, except as to policy loans, mortgage loans and collateral loans otherwise authorized under this chapter;
(3) Loans or investments expressly eligible under any other provision of this chapter;
(4) Any asset theretofore acquired or held by the insurer under any other category of loans or investments eligible under this chapter.
(b) The insurer shall keep a separate record of all loans and investments made under this section.