Montana Statutes
§ 33-12-311 — Additional Investment Authority
Montana·Title 33 INSURANCE AND INSURANCE COMPANIES·Ch. 12 INSURER INVESTMENTS·Part 3 Property and Casualty, Financial Guaranty, Mortgage Guaranty, Surety, Marine, and Title Insurers
33-12-311 . Additional investment authority.
(1)Under this section, an insurer may acquire investments, may engage in investment practices of any kind that are not specifically prohibited by this chapter, or may engage in investment practices without regard to any limitation in 33-12-302 through 33-12-309 . However, an insurer may not acquire an investment or engage in an investment practice under this section if, as a result of and after giving effect to the transaction, the aggregate amount of the investments then held by the insurer under this section would exceed the greater of:
(a)its unrestricted surplus; or
(b)the lesser of:
(i)10% of its admitted assets; or
(ii)50% of its surplus as regards policyholders.
(2)An insurer may not acquire an investment or engage in an investment
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Legislative History
En. Sec. 35, Ch. 304, L. 1999.
Nearby Sections
15
§ 33-12-101
Purpose And Scope§ 33-12-102
Definitions§ 33-12-103
General Investment Qualifications§ 33-12-105
Prohibited Investments§ 33-12-106
Loans To Officers And Directors§ 33-12-107
Valuation Of Investments§ 33-12-108
Presumption Of Control§ 33-12-110
Special Rated Credit Instrument§ 33-12-111
Rules§ 33-12-112
Foreign And Alien Insurers§ 33-12-113
Indemnification Agreement§ 33-12-201
Applicability