§ 5-503. Date when eligibility of investment determined

Latest version.

   (a) In general. -- The eligibility of an investment shall be determined as of the date of the making or acquisition of the investment.

(b) Investment limitations. -- An investment limitation that is based on the amount of assets or particular funds of a life insurer shall relate to those assets or funds as shown by:

   (1) the annual statement of the life insurer as of the December 31 immediately preceding the date of acquisition of the investment by the life insurer; or

   (2) a current financial statement of the life insurer that reflects the result of merger or consolidation with another insurer, bulk reinsurance, or change in capitalization.

HISTORY: An. Code 1957, art. 48A, § 88; 1995, ch. 36.

                    
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