Alabama § 27-41-15 Particular Investments - Obligations of American and Canadian Institutions Generally

Alabama Statutes

§ 27-41-15 — Particular Investments - Obligations of American and Canadian Institutions Generally

Alabama·Title 27 Insurance·Ch. 41 Investments of Domestic Insurers and Health Maintenance Organizations

An insurer may invest in secured and unsecured obligations bearing interest at a fixed rate, with mandatory principal and interest being due at specified times, of any solvent institution engaged in any lawful business and existing under the laws of the United States or any state of the United States or Canada or any province thereof if the issuing institution has not defaulted in the payment of principal and interest on any of its fixed interest obligations during the five years preceding the date of investment; provided, that the obligations of an institution which has not been in existence for a period of five years shall be deemed eligible for investment under this section if the institution has not defaulted in the payment of principal and interest on any of its fixed obligations duri

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An insurer may invest in secured and unsecured obligations bearing interest at a fixed rate, with mandatory principal and interest being due at specified times, of any solvent institution engaged in any lawful business and existing under the laws of the United States or any state of the United States or Canada or any province thereof if the issuing institution has not defaulted in the payment of principal and interest on any of its fixed interest obligations during the five years preceding the date of investment; provided, that the obligations of an institution which has not been in existence for a period of five years shall be deemed eligible for investment under this section if the institution has not defaulted in the payment of principal and interest on any of its fixed obligations during the period of its existence and if such institution meets the other requisites of this chapter.

Alabama § 27-41-15 (Particular Investments - Obligations of American and Canadian Institutions Generally) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.