(1) A bank's common trust fund as defined in the United States Internal Revenue Code of 1954, Section 584; and

(2) The securities of any open-end management type investment company or investment trust registered with the federal Securities and Exchange Commission under the Investment Company Act of 1940, as amended, if the investment company or trust, other than one of which as a subsidiary of the insurer is investment adviser or principal underwriter, has a new value of not less than $25,000,000 as of the date of investment by the insurer. [L 1987, c 349, §4]