HRS §431:6-304
Rules for insurer investments in trustee or receiver obligations
This section lets an insurer invest a small part of its money in certain debts issued by trustees or receivers of institutions under court supervision. The total invested cannot be more than two percent of the insurer's assets, and the debt must be well secured for both the amount borrowed and the interest.
The statute, as written — Trustees or receivers obligations
An insurer may invest any of its funds, in an aggregate amount not exceeding two per cent of its assets, in certificates, notes or other obligations issued by trustees or receivers of institutions existing under the laws of the United States or of any state, district or territory thereof, which, or the assets of which, are being administered under the direction of any court having jurisdiction, if the obligation is adequately secured as to principal and interest.
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