§ 33-11-64 — Conditions under which insurer shall not acquire an investment; special rated credit instruments

(a) An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed: (1) For medium and lower grade investments, 20 percent of admitted assets; (2) For lower grade investments, 10 percent of admitted assets; (3) For investments rated 5 or 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14 , 5 percent of admitted assets; or (4) For investments rated 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section 33-10-14 , 1 percent of admitted assets. (b) The aggregate amount of special rated credit instruments held by an insurer pursuant to the valuation procedures of Code Section 33-10-14 shall not exceed 10 percent of admitted assets.