3. For an investment in an investment pool to be qualified under this act, the investment pool shall not:
a. Acquire securities issued, assumed, guaranteed or insured by the insurer or an affiliate of the insurer;
b. Borrow or incur any indebtedness for borrowed money, except for securities lending and reverse repurchase transactions that meet the requirements of this act; or
c. Permit the aggregate value of securities then loaned or sold to, purchased from or invested in any one business entity under this act to exceed ten percent of the total assets of the investment pool.