Rule 120-2-69-.04. Assets

1. (1) Certificated and uncertificated securities shall be maintained in depositories within this State by domestic insurers and may be maintained outside of this State by foreign insurers provided that the appropriate affidavits or model custodian agreement, substantially in the form attached to this Regulation Chapter, be utilized as evidence of ownership whenever required by the Commissioner, his staff or his duly appointed examiners:

   1. (a) Exhibit A: for use by a custodian bank where securities entrusted to its care have not been redeposited elsewhere;
   2. (b) Exhibit B: for use in instances where a Custodian bank maintains securities on deposit with The Depository Trust Company or like entity;
   3. (c) Exhibit C: for use where ownership is evidenced by book-entry at a Federal Reserve Bank;
   4. (d) Exhibit D: for use by custodians who hold all or a majority of the assets of a domestic insurer.
2. (2) A domestic insurer may maintain securities outside of this State only with the express written permission of the Commissioner.

Authority: O.C.G.A. Sec. 33-2-9, 33-11-10, 33-14-13.

History. Original Rule entitled "Assets" adopted. F. Jul. 19, 1996; eff. Aug. 8, 1996.