§ 1611. Aggregate limitations. (a) The aggregate investment by the
insurer and its subsidiaries in assets which are owned, managed or
acquired pursuant to this article shall not exceed the limitations of
this chapter otherwise applicable to such investments if held directly
by the insurer.

(b) The aggregate amount of the insurer's investment in subsidiaries
shall not exceed fifteen percent of the insurer's invested assets, as
defined in subsection (a) of section one thousand four hundred one of
this chapter and as shown by its last statement on file with the
superintendent, but excluded from this limitation shall be any
investment in a subsidiary which is an insurance company and any
investment in a subsidiary of the type described in paragraph nine of
subsection (a) of section one thousand four hundred four or subparagraph
(B) of paragraph four of subsection (a) of section one thousand four
hundred seven of this chapter.