§ 23-63-824 - Foreign securities. - Arkansas Statutes

23-63-824. Foreign securities.

(a) An insurer may make investments, in aggregate amounts not exceeding five percent (5%) or, with prior approval of the Insurance Commissioner, ten percent (10%) of its assets, and not over three percent (3%) of its assets in any one (1) investment, in securities of or in a foreign country possessing characteristics and of a quality similar to the investment required pursuant to 23-63-801, 23-63-833, and 23-63-835 for investments in the United States.

(b) Canadian securities eligible for investment under other provisions of this subchapter are not subject to this section.