Source: https://development.code.dccouncil.us/dc/council/code/sections/31-1373.04.html
Timestamp: 2019-04-23 04:25:43+00:00

Document:
D.C. Law Library - § 31–1373.04. Rated credit instruments.
↪ § 31–1373.04. Rated credit instruments.
§ 31–1373.05. Insurer investment pools.
(2) A government-sponsored enterprise of the United States if the instruments of the government-sponsored enterprise are assumed, guaranteed, or insured by the United States or are otherwise backed or supported by the full faith and credit of the United States.
(2) An insurer shall not acquire an instrument under this subsection if, as a result of and after giving effect to the investment, the aggregate amount of investments held by the insurer under this subsection would exceed 40% of its admitted assets.
(D) Issued by a multilateral development bank.
(2) An insurer shall not acquire an instrument of any fund, enterprise, or entity, or state under this subsection if, as a result of and after giving effect to the investment, the aggregate amount of investments held in any one fund, enterprise or entity or state under this subsection would exceed 10% of its admitted assets.
(2) The aggregate amount of preferred stocks held by the insurer under this subsection which are not sinking fund stocks or rated P1 or P2 by the SVO does not exceed 10% of its admitted assets.
(e) Subject to the limitations of § 31-1373.03, in addition to those investments eligible under subsections (a), (b), (c), and (d) of this section, an insurer may acquire rated credit instruments that are not foreign investments.
(f) Notwithstanding any other provision of this section, an insurer shall not acquire special rated credit instruments under this section if, as a result of and after giving effect to the investment, the aggregate amount of special rated credit instruments held by the insurer would exceed 5% of its admitted assets.
(g) For purposes of this section, obligations of Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, and other mortgage related securities as defined in section 106 of the Secondary Mortgage Market Enhancement Act of 1984, approved October 3, 1984 (98 Stat. 1691; 15 U.S.C. § 77r-1), may be acquired to the same extent as allowed under subsection (a) of this section, whether or not they are rated credit instruments authorized in § 31-1373.04(a).
This section is referenced in § 31-1371.02, § 31-1373.02, § 31-1373.03, § 31-1373.07, and § 31-1373.08.

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