{"data":{"id":"us-mi/mich.-comp.-laws-500.938","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.938","heading":"Qualified assets.","body":"Sec. 938.\n\nQualified assets for purposes of section 901 include all of the following:\n\nAny negotiable paper or other evidence of indebtedness secured by any of the classes of securities in which insurance companies may lawfully invest funds pursuant to sections 912 and 918.\n\nNegotiable notes secured by pledge of stock of national or state banks, which have a surplus equal in amount to 25% of the paid in capital stock provided those loans do not exceed 85% of the market value of the stock and the total amount of the loan on bank secured collateral does not exceed 15% of the capital and surplus of the insurance company.\n\nFor other than a life insurer, loans secured as collateral by corporate stocks and securities eligible for investment under section 922 but no loan shall be made of more than 50% of the fair market value of those stocks and securities.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-938","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"5d5077cf99ea0c48d9a1489811d81f820b246e399361f72e5967e053df42ab35","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.934","next":"us-mi/mich.-comp.-laws-500.942"},"notice":"GroundRules: Original legal text. Not legal advice."}