Colorado § 10-3-230 - Additional investments.

§ 10-3-230. Additional investments.

(1) A domestic insurance company may invest in any additional investments, except items specifically defined as nonadmitted assets in this title 10, other than article 15 of this title 10, and article 14 of title 24, without regard to any limitation, condition, restriction, or exclusion set forth in sections 10-3-215 to 10-3-229 and 10-3-242, and regardless of whether the same or a similar type of investment has been included in or omitted from these sections, subject to the following:

(a) The total amount of indebtedness secured by a lien on any single parcel of real property is an admitted asset only to the extent that such indebtedness does not exceed the value limitation set forth in section 10-3-216 (1)(a).

(a.1) Notwithstanding the provisions of paragraph (a) of this subsection (1), indebtedness, subject to the provisions of section 10-3-216 (1)(h), is an admitted asset only to the extent that such indebtedness does not exceed ninety-five percent of the current value of the real property. The aggregate investment by a company which may be admitted assets under this paragraph (a.1) shall not exceed twenty percent of the limits allowable under paragraph (c) of this subsection (1).

(b) The amount of indebtedness secured by a pledge of any collateral shall be an admitted asset only to the extent that such indebtedness does not exceed the value limitation set forth in section 10-3-228 (1)(b).

(c) The aggregate investments by a company which may be admitted assets under this section shall not exceed the lesser of five percent of its admitted assets or fifty percent of the amount by which the sum of the par value of its outstanding capital stock, if any, and its surplus exceeds the sum of the minimum capital, if any, and the minimum surplus required of such company under the applicable provision of section 10-3-201.

(d) The admitted asset value of investments in mortgage loans must not exceed the value limitations as set forth in section 10-3-216 (1)(i), (1)(j), and (2).

Source: L. 69: p. 497, § 5. C.R.S. 1963: § 72-2-37. L. 70: p. 120, § 17. L. 71: p. 710, § 1. L. 81: IP(1) amended, p. 530, § 6, effective July 1. L. 85: IP(1) amended, p. 380, § 3, effective May 1. L. 92: IP(1) amended, p. 1550, § 42, effective May 20. L. 93: (1)(a.1) and (1)(d) added, p. 573, § 1, effective July 1. L. 2002: IP(1) amended, p. 1012, § 6, effective June 1. L. 2004: IP(1) amended, p. 1063, § 11, effective July 1. L. 2012: IP(1) amended, (HB 12-1266), ch. 280, p. 1506, § 31, effective July 1. L. 2020: IP(1) and (1)(d) amended, (HB 20-1136), ch. 87, p. 352, § 5, effective September 14.