§ 59A-9-13. Common trust funds, mutual funds

A. An insurer may invest in: (1) a bank's common trust fund as defined in Section 584 of the United States Internal Revenue Code of 1954; and (2) the securities of any open-end or closed-end management type investment company or investment trust registered under the federal Investment Company Act of 1940, 1 as from time to time amended, if such investment company or trust has assets of not less than ten million dollars ($10,000,000) at date of the investment. B. All such investments shall be considered as investment in common stocks for the purpose of the limit on aggregate investments imposed by Subsection B of Section 143 of this article.