(a) An insurer may loan or invest its funds in an aggregate amount not exceeding the lesser of the following sums: Five per cent of its assets or fifty per cent of its surplus over its capital and other liabilities, or, if a mutual or reciprocal insurer, fifty per cent of its surplus over the minimum required surplus, in kinds of loans or investments not otherwise specifically made eligible for investment and not specifically prohibited or made ineligible by this or other provisions of this article.
(b) No such loan or investment shall be represented by:
(1) Any item described in section 431:5-202;
(2) Any loan or investment of a kind specifically made eligible under any other provision of this code; or
(3) Any loan, investment, or assets theretofore acquired or held by the insurer under any other category of loans or investments.
(c) No one investment or loan shall exceed the amount specified in subsection (a) or one per cent of insurer's assets, whichever is the lesser.
(d) The insurer shall keep a separate record of all investments acquired under this section.