State Codes and Statutes

Statutes > Maine > Title24a > Title24-Ach13sec0 > Title24-Asec1123

Title 24-A: MAINE INSURANCE CODE

Chapter 13: INVESTMENTS

§1123. Collateral loans

An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As at date made, no such loan shall exceed in amount 90% of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged. [1969, c. 132, §1 (NEW).]

SECTION HISTORY

1969, c. 132, §1 (NEW).

State Codes and Statutes

Statutes > Maine > Title24a > Title24-Ach13sec0 > Title24-Asec1123

Title 24-A: MAINE INSURANCE CODE

Chapter 13: INVESTMENTS

§1123. Collateral loans

An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As at date made, no such loan shall exceed in amount 90% of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged. [1969, c. 132, §1 (NEW).]

SECTION HISTORY

1969, c. 132, §1 (NEW).


State Codes and Statutes


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State Codes and Statutes

Statutes > Maine > Title24a > Title24-Ach13sec0 > Title24-Asec1123

Title 24-A: MAINE INSURANCE CODE

Chapter 13: INVESTMENTS

§1123. Collateral loans

An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As at date made, no such loan shall exceed in amount 90% of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged. [1969, c. 132, §1 (NEW).]

SECTION HISTORY

1969, c. 132, §1 (NEW).


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