Section 411-A:3 Eligible Investments.
I. Insurers shall invest in or lend their funds on the security of, and shall hold as invested assets, only eligible investments as prescribed in this chapter.
II. Any investment made or acquired by an insurer prior to July 1, 1978, which investment was permitted by statute at the time it was made, and which investment the insurer was legally entitled to possess on June 30, 1978, shall be deemed to be an eligible investment.
III. Eligibility of any investment made or acquired on or after July 1, 1978, shall be determined in accordance with the provisions of this chapter and shall be determined as of the date of its making or acquisition.
IV. Any investment limitation based upon the amount of the insurer's assets or particular funds shall relate to such assets or funds as shown by the insurer's annual statement as of the December 31 next preceding the date of acquisition of the investment by the insurer, or as shown by a current financial statement resulting from merger of another insurer, bulk reinsurance, or change in capitalization.
Source. 1978, 11:1, eff. July 1, 1978.