# N.Y. ISC Law § 1409: Limitation of investments

> New York · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1409

## Section

- **Citation:** N.Y. ISC Law § 1409
- **Heading:** Limitation of investments
- **Jurisdiction:** New York
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** New York Code / Act ISC / Article 14 / Section 1409

## Text

§ 1409. Limitation of investments. (a) Except as more specifically\nprovided in this chapter, no domestic insurer shall have more than ten\npercent of its admitted assets as shown by its last statement on file\nwith the superintendent invested in, or loaned upon, the securities\n(including for this purpose certificates of deposit, partnership\ninterests and other equity interests) of any one institution.\n (b) The restriction of subsection (a) hereof shall not apply to the\nclasses of governmental obligations (including obligations secured by\nmortgages upon real property guaranteed or insured under the National\nHousing Act, 12 U.S.C. §§ 1701-1750) eligible for minimum capital or\nsurplus to policyholder investments pursuant to the provisions of\nsection one thousand four hundred two of this article nor to investments\nin shares of other insurance companies pursuant to the provisions of\nsection one thousand four hundred eight of this article.\n (c) The limitations of investments set forth in this section shall not\napply to mortgage-related securities or securities issued or guaranteed\nby the Federal Home Loan Mortgage Corporation or the Federal National\nMortgage Association; provided, however, that for an insurer maintaining\nan aggregate investment in excess of seventy percent of its admitted\nassets as shown by its last statement on file with the superintendent in\nsuch securities, the balance of such investments greater than seventy\npercent thereon shall be limited by and apportioned according to a ratio\nof one to two respectively, between investment in such securities and\ninvestment in government obligations, as that term is defined in\nparagraph one of subsection (a) of section fourteen hundred four of this\nchapter.\n (d) The superintendent shall not promulgate any rules or regulations\nto limit or otherwise alter the provisions of paragraph two of\nsubsection (a) of section fourteen hundred one of this article or\nsubsection (c) of this section. The superintendent shall not promulgate\nany rules or regulations that limit the authority of any insurer to\ninvest in mortgage related securities.\n

## Nearby sections

- [N.Y. ISC Law § 1401 Definitions and rules of general application](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1401.md)
- [N.Y. ISC Law § 1402 Minimum capital or minimum surplus to policyholder investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1402.md)
- [N.Y. ISC Law § 1403 Reserve and other investments; certain requirements](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1403.md)
- [N.Y. ISC Law § 1404 Types of reserve investments permitted for non-life insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1404.md)
- [N.Y. ISC Law § 1405 Investments of life insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1405.md)
- [N.Y. ISC Law § 1406 Policy loans](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1406.md)
- [N.Y. ISC Law § 1407 Non-reserve and prohibited investments for property/casualty and certain other insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1407.md)
- [N.Y. ISC Law § 1408 Acquisition of insurance company shares; limitations thereon](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1408.md)
- [N.Y. ISC Law § 1409 Limitation of investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1409.md)
- [N.Y. ISC Law § 1410 Derivative transactions and derivative instruments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1410.md)
- [N.Y. ISC Law § 1411 Authorization of, and restrictions on, investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1411.md)
- [N.Y. ISC Law § 1412 Disposal or deduction of investments unlawfully acquired](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1412.md)
- [N.Y. ISC Law § 1413 Investments of foreign and alien insurers](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1413.md)
- [N.Y. ISC Law § 1414 Valuation of investments](https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1414.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NY_AISC_A14_S1409. Check the current official text before relying on it. Not legal advice.