2010 Georgia Code
TITLE 33 - INSURANCE
CHAPTER 11 - INVESTMENTS
ARTICLE 2 - INVESTMENTS OF LIFE, ACCIDENT AND SICKNESS, PROPERTY, AND CASUALTY INSURERS
§ 33-11-64 - Conditions under which insurer shall not acquire an investment; special rated credit instruments
O.C.G.A.
33-11-64 (2010)
33-11-64. Conditions under which insurer shall not acquire an investment; special rated credit instruments
(a) An insurer shall not acquire an investment under this article if, as a result of and after giving effect to the investment, the aggregate amount of all investments then held by the insurer under this article would exceed:
(1) For medium and lower grade investments, 20 percent of admitted assets;
(2) For lower grade investments, 10 percent of admitted assets;
(3) For investments rated 5 or 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section
33-10-14, 5 percent of admitted assets; or
(4) For investments rated 6 by the Securities Valuation Office or any successor office pursuant to the valuation procedures of Code Section
33-10-14, 1 percent of admitted assets.
(b) The aggregate amount of special rated credit instruments held by an insurer pursuant to the valuation procedures of Code Section
33-10-14 shall not exceed 10 percent of admitted assets.
Graham Syfert - Jacksonville Lawyer