Limitation on securities owned or controlled by separate account investments
An insurer shall not invest the funds of a separate account so as to own or control, under the insurer’s general and separate accounts in the aggregate, more than 10 percent of the voting power outstanding of any issuer of securities. Securities held in separate accounts, the voting rights in which are exercisable only in accordance with instructions from persons having interests in such accounts, shall not be considered in applying this section. [1973 c.435 §11]
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