SUBJECT: AIRCRAFT AS QUALIFIED INVESTMENTS
DATE: JANUARY 11, 1994
The Nebraska Department of Insurance has determined that aircraft which are generally used for business purposes may qualify as an investment under Section 44-5153.
The cost of each aircraft shall be amortized in full over a period not to exceed seven years, but in no event shall the depreciation period exceed that used for federal income tax purposes.
The admitted asset value of aircraft shall not exceed the lower of cost less depreciation, or market value.
Companies are reminded that the maximum aggregate value of all investments qualified pursuant to Section 44-5153 cannot exceed the limits contained in that statute.
WILLIAM H. MCCARTNEY
Director of Insurance