(a) An insurer shall invest and keep invested its funds aggregating in amount, if a stock insurer, not less than 100 percent of its minimum required capital, or if a mutual insurer, not less than 100 percent of its required minimum surplus, in cash or investments eligible in accordance with section 554 of this title (public obligations), and in mortgage loans on real property located within this territory, pursuant to section 561 of this title.
(b) In addition to the investments required by subsection (a) of this section, an insurer shall invest and keep invested its funds aggregating not less than 100 percent of its reserves required by this title in cash or premiums in course of collection or in investments eligible in accordance with the following sections of this title: 554 (public obligations), 555 (corporate obligations), 558 (preferred or guaranteed stocks), 559 (trustees' or receivers obligations), 560 (equipment trust certificates), 561 (mortgages, mortgage bonds, notes, contracts), 565 (auxiliary chattel mortgages), 566 (real property owned; home office building, etc.), 568 (foreign securities), 569 (policy loans), 570 (savings and share accounts), 573 (collateral loans), and 575 (special consent investments).
(c) This section shall not apply to title insurers nor to mutual insurers on the assessment premium plan.