Record of investments required.

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(1) In the case of mortgage loans:

(a) The name of the borrower;

(b) The location and legal description of the property;

(c) A physical description and the appraised value of the security as determined by a competent and qualified appraiser; and

(d) The amount of the loan, rate of interest and terms of repayment.

(2) In the case of obligations:

(a) The name of the obligor;

(b) A description of the security and record of earnings;

(c) The amount invested and the rate of interest or dividend; and

(d) The maturity and yield based upon the purchase price.

(3) In the case of corporate stocks:

(a) The name of the issuing corporation;

(b) The record of earnings and of dividends paid for the preceding three years for preferred stock and for the preceding five years for common stock;

(c) A summary of the financial statement of the corporation as of the end of the preceding fiscal year;

(d) The exchange, if any, on which the stock is listed; and

(e) The amount invested and the number of shares acquired and held.

(4) In the case of real estate, leaseholds or vendors’ interests under contracts of sale therein:

(a) The location and legal description of the property;

(b) A physical description and the appraised value of the property and interest therein;

(c) The purchase price and terms;

(d) The amount of any lien known to be against the property;

(e) If of a leasehold, the terms of the outstanding lease; and

(f) If a vendor’s interest under a contract of sale, the terms and status of payments under the contract.

(5) In the case of all investments:

(a) The amount of any expenses and commissions incurred on account of the investment or loan and by whom and to whom payable if not covered by contracts with mortgage loan representatives or correspondents that are part of the insurer’s records; and

(b) The name of any director, trustee or officer of the insurer, having a direct, indirect or contingent interest in the loan, security or property, or who would derive, directly or indirectly, any benefit therefrom, and the nature of such interest or benefit. [Formerly 738.345; 2005 c.22 §488]


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