CO SB209

Expands permissible real estate loan investments for domestic insurers to include properties located in the United States or Canada.

Establishes three loan-to-value tiers: 90% for purchase-money mortgages, up to 97% for residential properties of four or fewer units with private mortgage insurance meeting specific amortization requirements, and 75% for other mortgages.

Requires commercial properties and multi-family residential loans (five or more units) to have amortization periods of 30 years or less with scheduled principal and interest payments no less frequent than annually.

Eliminates prior provisions restricting loan instruments and the sale of admitted assets with purchase-money mortgages, removing specific amortization and payment requirements from statute.

Takes effect August 6, 2014, unless subject to referendum petition filed within 90 days of adjournment.