(215 ILCS 5/126.32)
Sec. 126.32.
Additional investment authority.
A. Under this Section, an insurer may acquire investments or engage in
investment practices of any kind that are not specifically prohibited by
Section 126.5 and are not derivative instruments without regard to any
limitation in Sections 126.23 through 126.30, but an insurer shall not acquire
an investment or engage in an investment practice under this Section if, as a
result of and after giving effect to the transaction, the aggregate amount of
the investments then held by the insurer under this Section would exceed the
greater of:
(1) Its unrestricted surplus; or
(2) The lesser of:
(a) 10% of its admitted assets; or
(b) 50% of its surplus as regards policyholders.
B. An insurer shall not acquire any investment or engage in any investment
practice under subsection A(2) of this Section if, as a result of and after
giving effect to the transaction the aggregate amount of all investments in any
one person then held by the insurer under that subsection would exceed 5% of
its admitted assets.
(Source: P.A. 90-418, eff. 8-15-97.)
|