An insurer shall not invest the funds of a separate account so as to have more than 10 percent of the market value of the assets of the account invested in or secured by the stocks, obligations or property of any one person or political subdivision, or invested in a single parcel of real property or any other single investment. This section does not apply to:

Terms Used In Oregon Statutes 733.654

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.

(1) Funds equaling 25 percent of the market value of the total assets in the separate account;

(2) Investments in, or loans upon, the security of the general obligations of a sovereign; or

(3) Investments in certificates of deposits insured by the Federal Deposit Insurance Corporation. [1973 c.435 § 10; 1981 c.472 § 27; 1999 c.107 § 17]

 

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