Sec. 423.107. ASSETS DEPOSITED WITH CLEARING CORPORATION. A domestic insurer may deposit assets with a clearing corporation only if: (1) the insurer is a member of an insurance holding company system that has assets of at least $5 billion, as shown by annual statements of member insurers for the preceding year; (2) the insurer uses the clearing corporation only as a depository for investments in internationally traded securities; (3) the insurer's total investment in internationally traded securities under Subdivision (2) does not exceed the insurer's policyholders' surplus; and (4) the insurer does not use securities deposited with the clearing corporation as security for reinsurance.
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