(1) An insurer may, in addition to any investment authorized under section 44-5132, invest in obligations secured by pledged securities if:

Terms Used In Nebraska Statutes 44-5134

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Director: shall mean the Director of Insurance. See Nebraska Statutes 44-103
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Insurer: shall include all companies, exchanges, societies, or associations whether organized on the stock, mutual, assessment, or fraternal plan of insurance and reciprocal insurance exchanges. See Nebraska Statutes 44-103

(a) The market value of such pledged securities or the fair value if the securities have no recognized market value will at all times of holding the investment be equal to at least one hundred ten percent of the investment in the notes or other evidence of indebtedness; and

(b) The pledged securities are of the kind authorized for investment under the Insurers Investment Act.

(2) For purposes of this section, pledged securities shall mean notes, mortgages, bonds, debentures, and preferred or common stock. Pledged securities shall not be valued at an amount greater than the value at which they could be shown on the insurer’s financial statements filed with the director pursuant to section 44-322 if owned directly by the insurer.

(3) An insurer’s investments authorized under this section shall not exceed twenty percent of its admitted assets.