Section 408:32 Investments.
I. The assets of a variable contract account may be invested in any real estate or tangible or intangible personal property which is a legal investment for a life insurance company, and in addition such assets may be invested wholly or partly in common stock, in preferred stocks or in other equities which are, at the time of their purchase, either listed or admitted to trading on a security exchange located in the United States of America or Canada, or are publicly traded on the over-the-counter market and as to which market quotations are available, provided that no more than 5 percent of the assets in any variable contract account may be invested in the securities of any one company and not more than 10 percent of any class of securities of any company shall be acquired.
II. Unless otherwise approved by the commissioner, assets allocated to a variable contract account shall be valued at their market value on the date of valuation, or if there is no readily available market, then as provided under the terms of the contract or the rules or other written agreement applicable to such variable contract account; provided, that unless otherwise approved by the commissioner, the portion if any of the assets of such variable contract account equal to the company's reserve liability with regard to the guaranteed benefits and funds referred to in RSA 408:33 shall be valued in accordance with the rules otherwise applicable to the company's assets.
Source. 1967, 272:2. 1977, 264:4, eff. Aug. 21, 1977.