Funds of a corporation subject to this chapter shall be invested only in securities and property designated by law for investment by domestic life insurance companies. Notwithstanding any limitations set forth in chapter 61A, an organization which has received a certificate of authority from the commissioner to operate under this chapter may invest up to 20 percent of its admitted assets in corporations whose business is the arrangement for, management of, or provision of health care services, including dental and related managed care and administrative services. Any amounts so invested shall, for purposes of section 62C.09 , be added to the minimum and maximum reserve requirements as calculated for a service plan corporation.
Minn. Stat. § 62C.10
INVESTMENT.
Applied in 1 court decision — leading case In Re the Excess Surplus Status of Blue Cross & Blue Shield of Minnesota (2001)
Most recently applied in In Re the Excess Surplus Status of Blue Cross & Blue Shield of Minnesota (April 2001)
1971 c 568 s 10; 1993 c 70 s 1; 1994 c 425 s 12
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.