§ 38.2-1414. Limits by type of investment.

A. The portion of a domestic insurer's total admitted assets in the followingtypes of investments shall not exceed:

1. Ten percent for the aggregate of investments made eligible by §§ 38.2-1416and 38.2-1417;

2. Five percent for the investments in each agency made eligible by §38.2-1418, and ten percent for the aggregate of investments made eligible by§ 38.2-1418;

3. Ten percent for the investments made eligible by § 38.2-1419;

4. Ten percent for the investments made eligible by § 38.2-1420;

5. For the aggregate of investments made eligible under §§ 38.2-1421 and38.2-1422, (i) ninety percent for any life insurer and (ii) forty percent forall other insurers;

6. Ten percent for the investments made eligible by subsection B of §38.2-1421; and two percent for the investments made eligible by subsection Cof § 38.2-1421;

7. Twenty percent for the investments made eligible by § 38.2-1422;

8. Ten percent for the investments made eligible by § 38.2-1423;

9. Five percent for the investments made eligible by § 38.2-1424;

10. Five percent for the investments made eligible by § 38.2-1425;

11. The lesser of fifteen percent or the amount by which an insurer's surplusto policyholders exceeds its minimum capital and surplus for the aggregate ofinvestments made eligible by §§ 38.2-1427, 38.2-1427.1 and 38.2-1427.2, ofwhich no more than five percent of the total admitted assets shall be ininvestments made eligible by § 38.2-1427.1;

12. For the aggregate of investments made eligible by § 38.2-1427.3, whencombined with the insurer's total investment in affiliates, the lesser of tenpercent of the insurer's admitted assets or fifty percent of the insurer'ssurplus to policyholders in excess of its minimum capital and surplus,provided that total investments in affiliates do not include investments madeby the insurer in money market mutual funds made eligible by § 38.2-1432;

13. Ten percent for investments made eligible by subsection B of § 38.2-1433,and an amount equal to its deposit and reserve obligations incurred in aforeign country for the investments made eligible by subsection A of §38.2-1433;

14. Two percent for the investments made eligible (including those that theinsurer is obligated to make as well as those made) by subdivision 3 of §38.2-1434;

15. Two percent for the investments made eligible by § 38.2-1435;

16. Ten percent for the investments made eligible by § 38.2-1436;

17. For the aggregate of investments made eligible by § 38.2-1437.1, whencombined with the insurer's investments in mortgages under §§ 38.2-1434through 38.2-1436 and § 38.2-1439, (i) sixty percent for any life insurer and(ii) thirty percent for all other insurers;

18. Two percent for the investments made eligible by § 38.2-1440; and

19. Twenty-five percent for the total of investments made eligible by §38.2-1441, of which no more than five percent of the total admitted assetsshall be in investments in real property to be used primarily for hotelpurposes.

B. The amount loaned under § 38.2-1430 shall be subject to the limitations ofthis section applicable to the kinds of securities or obligations pledged inconnection with the loan.

(1983, c. 457, § 38.1-217.17; 1986, c. 562; 1992, c. 588; 1993, c. 47; 1995,c. 60; 1998, c. 414.)