PART II. 
MANDATORY PROVISIONS



 



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



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as superseded by c 348, §10; am L 2008, c 142, §4]