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This entry was published on 2014-09-22
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SECTION 1609
Prohibitions on investments of subsidiaries
Insurance (ISC) CHAPTER 28, ARTICLE 16
§ 1609. Prohibitions on investments of subsidiaries. No subsidiary
acquired by a domestic insurance company pursuant to this article shall
make any investment prohibited by subsection (a) of section one thousand
four hundred seven of this chapter except that an alien subsidiary may
make investments in excess of the limitations described in paragraph
seven of such subsection if found by the superintendent to be reasonably
necessary to protect the interests of the parent corporation or those of
its alien subsidiary and not prejudicial to the interests of the people
of this state.