656

The limitations and restrictions to investment set forth in §§ 648–662 of this title shall not apply to investments made by an insurer in a subsidiary that was acquired or established by the insurer with prior authorization from the Commissioner. All entities that are directly or indirectly under the control of the insurer shall be deemed to be subsidiaries. However, the investment in all subsidiaries of the insurer shall not exceed twenty percent (20%) of its admitted assets or thirty percent (30%) of its capital and surplus, whichever is less. History —Ins. Code, added as § 6.100 on May 16, 2003, No. 130, § 1.