New Hampshire Revised Statutes 411-A:6 – Diversification
Current as of: 2023 | Check for updates
|
Other versions
I. An insurer shall not at any one time have any combination of investments in or loans upon the security of obligations, property or securities of any one municipal corporation, institution, person or corporation (other than its lawful subsidiary) aggregating over 10 percent of the insurer’s assets. This shall not apply as to general obligations of, or obligations guaranteed by, the United States, its agencies or government sponsored enterprises, or of any state, or of Canada or any province thereof, or include policy loans made under N.H. Rev. Stat. § 411-A:27.
II. An insurer shall not invest in or hold at any one time more than 10 percent of the outstanding voting stock of any corporation, except as to voting rights of preferred stock during default of dividends. This does not apply as to stock of a subsidiary of the insurer acquired under N.H. Rev. Stat. § 411-A:13 or to controlling stock of an insurer acquired under N.H. Rev. Stat. § 411-A:12, II.
III. An insurer shall invest and have invested at any one time in aggregate amount not more than 10 percent of admitted assets in all stocks, investment in which is permitted under N.H. Rev. Stat. § 411-A:11, 411-A:12 and 411-A:14, and not more than 20 percent of its assets in stocks referred to in N.H. Rev. Stat. § 411-A:10. For the purposes of this paragraph stocks shall be valued at cost. This provision shall not apply to stock of controlled or subsidiary corporations or money market mutual funds.
IV. An insurer shall not at any one time have more than 50 percent of its assets invested in obligations secured by mortgages of real property, exclusive of that portion of such obligations guaranteed or insured by an agency or government sponsored enterprise of the United States government. For the purposes of this paragraph, mortgages shall be valued at book value.
II. An insurer shall not invest in or hold at any one time more than 10 percent of the outstanding voting stock of any corporation, except as to voting rights of preferred stock during default of dividends. This does not apply as to stock of a subsidiary of the insurer acquired under N.H. Rev. Stat. § 411-A:13 or to controlling stock of an insurer acquired under N.H. Rev. Stat. § 411-A:12, II.
Terms Used In New Hampshire Revised Statutes 411-A:6
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- person: may extend and be applied to bodies corporate and politic as well as to individuals. See New Hampshire Revised Statutes 21:9
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
- United States: shall include said district and territories. See New Hampshire Revised Statutes 21:4
III. An insurer shall invest and have invested at any one time in aggregate amount not more than 10 percent of admitted assets in all stocks, investment in which is permitted under N.H. Rev. Stat. § 411-A:11, 411-A:12 and 411-A:14, and not more than 20 percent of its assets in stocks referred to in N.H. Rev. Stat. § 411-A:10. For the purposes of this paragraph stocks shall be valued at cost. This provision shall not apply to stock of controlled or subsidiary corporations or money market mutual funds.
IV. An insurer shall not at any one time have more than 50 percent of its assets invested in obligations secured by mortgages of real property, exclusive of that portion of such obligations guaranteed or insured by an agency or government sponsored enterprise of the United States government. For the purposes of this paragraph, mortgages shall be valued at book value.