PART II. MANDATORY PROVISIONS

 

§431:6-201  Required investments for capitaland reserves.  (a)  An insurer shall invest and keep invested its fundsaggregating in amounts, if a stock insurer, not less than sixty per cent of itsminimum required capital, or if a mutual or reciprocal insurer, not less thansixty per cent of its required minimum surplus, in cash or investments eligiblein accordance with section 431:6-301 (public obligations), and in mortgageloans on real property, pursuant to section 431:6-306.

(b)  In addition to the investments required bysubsection (a), an insurer shall maintain an amount aggregating not less thanone hundred per cent of its reserves required by this code, in the followingassets:  cash, premiums in course of collection, reinsurance recoverable onpaid losses, or investments eligible in accordance with this article, includinginterest and dividends receivable on the investments. [L 1987, c 347, pt of §2as superseded by c 348, §10; am L 2008, c 142, §4]