WVC 33 - 8 - 32
§33-8-32. Same - Additional investment authority.
(a) An insurer may acquire under this section investments, or
engage in investment practices, of any kind that are not
specifically prohibited by this article, or engage in investment
practices, without regard to any limitation in sections
twenty-three through thirty of this article, but an insurer may not
acquire an investment or engage in an investment practice under
this section if, as a result of and after giving effect to the
transaction, the aggregate amount of the investments then held by
the insurer under this section would exceed the greater of:
(1) Its unrestricted surplus; or
(2) The lesser of:
(A) Ten percent of its admitted assets; or
(B) Fifty percent of its surplus as regards policyholders.
(b) An insurer may not acquire any investment or engage in any
investment practice under subdivision (2), subsection (a) of this
section if, as a result of and after giving effect to the
transaction the aggregate amount of all investments in any one
person then held by the insurer under that subsection would exceed
five percent of its admitted assets.
Note: WV Code updated with legislation passed through the 2013 1st Special Session
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