§ 58-7-165. Eligible investments. - North Carolina Statutes

§58‑7‑165.  Eligible investments.

(a)        Insurers shallinvest in or lend their funds on the security of, and shall hold as investedassets, only eligible investments as prescribed in this Chapter.

(b)        Any particularinvestment held by an insurer on December 31, 1991, that was a legal investmentwhen it was made, and that the insurer was legally entitled to possessimmediately before January 1, 1992, is an eligible investment.

(c)        Eligibility of aninvestment shall be determined as of the date of its making or acquisition,except as stated otherwise in this Chapter.

(d)        Any investmentlimitation based upon the amount of the insurer's assets or particular fundsshall relate to those assets or funds shown by the insurer's annual statementas of the December 31 preceding the date of acquisition of the investment bythe insurer, or, if applicable, as shown by the most current quarterlyfinancial statement filed by the insurer. (1991, c. 681, s. 29.)