HRS §431:6-302
When insurers can invest in other obligations
This section lets an insurance company invest its money in certain debts or bonds that are not normally allowed, as long as the company issuing them is solvent and the investment is filed with or exempted by the Securities Valuation Office. It is a narrow rule about what extra investments are permitted.
The statute, as written — Corporate obligations
An insurer may invest any of its funds in obligations other than those eligible for investment under section 431:6-306 if they are: (1) Issued, assumed, or guaranteed by any solvent institution created or existing under the laws of the United States or of any state, or district thereof; and (2) Filed with the SVO or are considered "filing exempt" by the Purposes and Procedures Manual of the SVO, or its successor publication.
Sections this one refers to
§431:6-306 What kinds of mortgage investments an insurance company can make
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