§ 24-A §1153 — General qualifications

1.
Eligible investments.
No investment, other than real property acquired under section 1156, subsection 2, paragraph D, and personal property incident to that real property or acquired under section 1156, subsection 2, paragraph E, and other than investments acquired under section 1156, subsection 2, paragraph H, subparagraph (2), may be eligible for acquisition unless it is interest bearing, interest accruing, entitled to dividends, if declared, or is otherwise income entitled and is not then in default in any respect and the insurer is entitled to receive for its exclusive account and benefit that interest or those dividends or that income.
2.
Bona fide hedging transactions.
3.
Permitted acquisitions.
Nothing in this chapter prohibits the acquisition by an insurer of:
4.
Derivative transactions.
This chapter does not prohibit an insurer from engaging in hedging transactions, income generation transactions and replication or synthetic asset transactions under the following conditions.

Legislative History

PL 1987, c. 399, §14 (NEW). PL 1999, c. 715, §§9,10 (AMD).