(1) An insurer may invest in the common stock or rights to purchase or sell common stock of any corporation which has retained earnings of not less than one million dollars, except that an investment may be made in any corporation having a majority of its operations in this state which has retained earnings of not less than two hundred fifty thousand dollars. The earnings of all predecessor, merged, consolidated, or purchased corporations shall be included through the use of consolidated or pro forma statements.
(2) (a) An insurer may invest in equity interests or rights to purchase or sell equity interests in business entities, other than general partnerships, created or existing under the laws of the United States or Canada or any state or province thereof. (b)(i) A life insurer's investments authorized under this subsection shall not exceed fifty percent of its policyholders surplus. (ii) A life insurer shall not invest under this subsection in any investment which the life insurer may invest in under section 44-5140 or 44-5144 or subsection
(1) of this section.
(3) Except as authorized under the Insurance Holding Company System Act, an insurer shall not invest in more than ten percent of the total equity interests in any business entity other than an insurer.
(4) A life insurer's investments authorized under this section shall not exceed one hundred percent of its policyholders surplus.