PART IV. PROHIBITED INVESTMENTS AND LIMITATIONS

 

§431:6-401  Prohibited investments.  Inaddition to investments excluded under other provisions of this article, aninsurer shall not, except with the commissioner's approval in advance, investin or loan its funds upon the security of, or hold:

(1)  Issued shares of its own capital stock, exceptfor the purpose of mutualization in accordance with section 431:4-502.

(2)  Any investment or loan ineligible under section431:6-105.

(3)  Securities issued by an insolvent corporation.

(4)  Any investment or security which is found by thecommissioner to be designed to evade any prohibition of this article. [L 1987,c 347, pt of §2]