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Ark. Code Ann. § 23-63-822

Collateral loans

Acts 1959, No. 148, § 118; A.S.A. 1947, § 66-2622; Acts 1993, No. 527, § 10.

(1) An insurer may lend and invest its funds upon the pledge of securities eligible for investment under this subchapter.

(2) As at date made, no loan shall exceed in amount ninety percent (90%) of the market value of such collateral pledged.

(3) The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this subchapter to be invested in the respective categories of securities so pledged.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.