Nebraska Statutes 44-5108. Convertible securities

An insurer may invest in securities which are convertible into other securities if:

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Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103

(1) The convertible securities are authorized under the Insurers Investment Act at the time of acquisition; and

(2) The securities into which such securities are convertible are authorized under the act at the time of conversion.