Quote:
Originally posted by BobbyTheDon
Rudey,
STOP Deleting and locking threads. It was just a simple question on GC.
Now everyone, if you agree to have BobbyTheDon banned. Say "Hamburger"
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Hamburger!
And here are some additional, irrelevant, boring thoughts that I found on the internet because I didn't know how else to make this post unnecessarily lengthy!
Section 205.50 Limitations and Restrictions
a)
1) In no event, shall the insured average annual debt service (net of the appropriate allowance for acceptable reinsurance and collateral allowable under Section 205.80) in respect to securities, backed by a single revenue source, exceed an amount representing ten percent (10%) of the insurer's policyholders' surplus plus its contingency reserve.
2) In no event, shall the insured unpaid principal (net of the appropriate allowance for acceptable reinsurance and collateral allowable under Section 205.80) in respect to securites backed by a single revenue source, when added to the admitted value of the securities of such source in which the insurer has invested, exceed amount representing seventy-five percent (75%) of the insurer's policyholders' surplus plus its contingency reserve.
3) In no event, shall twice the outstanding cumulative net liability under policies in force insuring industrial revenue bonds described in subsection 205.30(f) plus the outstanding cumulative net liability under policies in force insuring all other municipal bonds exceed:
A) 300 times the sum of the insurer's policyholders' surplus plus its contingency reserve if the insurer transacts only municipal bond insurance, or
B) 60 times the sum of the insurer's policyholders' surplus plus its contingency reserve if the insurer transacts any insurance in addition to municipal bond insurance.
-Rudey
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