Montana Code 33-12-311. Additional investment authority
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:
Terms Used In Montana Code 33-12-311
- Admitted assets: means , subject to subsection (5)(b), assets determined in accordance with the requirements of 33-2-501. See Montana Code 33-12-102
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Investment practices: means transactions of the types described in 33-12-208, 33-12-210, 33-12-308, or 33-12-310. See Montana Code 33-12-102
- Person: has the meaning provided in 33-1-202. See Montana Code 33-12-102
- Unrestricted surplus: means the amount by which total admitted assets exceed 125% of the insurer's required liabilities. See Montana Code 33-12-102
(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 practice under subsection (1) if, as a result of and after giving effect to the transaction, the aggregate amount of all investments in any one person then held by the insurer under subsection (1) would exceed 5% of its admitted assets.