An insurer doing business that requires it to make payments in different currencies shall have investments in securities in each of these currencies in an amount that independently of all other investments meets the requirements of sections 60L.01 to 60L.15 as applied separately to the insurer's obligations in each currency. The commissioner may by order exempt an insurer, or a class of insurers, from this requirement if the obligations in other currencies are small enough that no significant problem for financial solidity would be created by substantial fluctuations in relative currency values.
1998 c 319 s 9
Structure Minnesota Statutes
Chapters 59A - 79A — Insurance
Chapter 60L — Investments Of Insurers
Section 60L.02 — Requirements.
Section 60L.03 — Minimum Financial Security Benchmark.
Section 60L.04 — Authorized Investments.
Section 60L.05 — Prudence Evaluation Criteria.
Section 60L.06 — Insurer Investment Policy.
Section 60L.07 — Authorized Classes Of Investments.
Section 60L.08 — Limitations Generally Applicable.
Section 60L.09 — Protection Against Currency Fluctuations.
Section 60L.10 — Prohibited Investments.
Section 60L.11 — Effect Of Investment Restrictions.
Section 60L.12 — Reports And Replies.
Section 60L.13 — Retention Of Experts.