HRS §431:6-319
Rules for insurers making other types of investments
This section lets an insurance company make certain loans or investments that are not already allowed elsewhere, but only up to a limited amount. The company must keep a separate record of these investments. There are also rules about what cannot be counted as this type of investment.
The statute, as written — Miscellaneous investments
(a) An insurer may loan or invest its funds in an aggregate amount not exceeding the lesser of the following sums: Five per cent of its assets or fifty per cent of its surplus over its capital and other liabilities, or, if a mutual or reciprocal insurer, fifty per cent of its surplus over the minimum required surplus, in kinds of loans or investments not otherwise specifically made eligible for investment and not specifically prohibited or made ineligible by this or other provisions of this article. (b) No such loan or investment shall be represented by: (1) Any item described in section 431:5-202; (2) Any loan or investment of a kind specifically made eligible under any other provision of this code; or (3) Any loan, investment, or assets theretofore acquired or held by the insurer under any other category of loans or investments. (c) No one investment or loan shall exceed the amount specified in subsection (a) or one per cent of insurer's assets, whichever is the lesser. (d) The insurer shall keep a separate record of all investments acquired under this section.
Sections this one refers to
§431:5-202 What an insurance company cannot count as assets
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