17B:20-5 - Securities of foreign country or property therein - New Jersey Statutes

17B:20-5.  Securities of foreign country or property therein
    Any domestic insurer lawfully doing business, directly or through any subsidiary, in any foreign country other than Canada, may also invest its funds, or permit such subsidiary to invest its funds, to an amount not exceeding 150% of the reserves and other obligations under outstanding policies  of insurance issued or delivered in such foreign country by the insurer or such  subsidiary, in securities properties and other investments in such foreign  country substantially of the same character as that prescribed for authorized  investments for the funds of the insurer under the laws of this State.

     L.1971, c. 144, s. 17B:20-5.  Amended by L.1973, c. 372, s. 4.