Conditions Under Which Insurer Shall Not Acquire an Investment; Special Rated Credit Instruments

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  2. Georgia Code
  3. Insurance
  4. Investments
  5. Investments of Life, Accident and Sickness, Property, and Casualty Insurers
  6. Conditions Under Which Insurer Shall Not Acquire an Investment; Special Rated Credit Instruments

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  1. An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed:
    1. For medium and lower grade investments, 20 percent of admitted assets;
    2. For lower grade investments, 10 percent of admitted assets;
    3. For investments rated 5 or 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14, 5 percent of admitted assets; or
    4. For investments rated 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14, 1 percent of admitted assets.
  2. The aggregate amount of special rated credit instruments held by an insurer pursuant to the valuation procedures of Code Section 33-10-14 shall not exceed 10 percent of admitted assets.

(Code 1981, §33-11-64, enacted by Ga. L. 1999, p. 592, § 12.)


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