§ 27-1-21-1 — Treatment of prior investments

IC 27-1-12-2, IC 27-1-12-3, IC 27-1-12-11, and
IC 27-1-20-8 in their operation shall be subject to the following
limitations and reservations:
(a) The validity for deposit and investment purposes of
investments made before March 6, 1945, pursuant to the deposit
investment requirements of s.147, s.148, s.149, or s.155 of Acts
1935, c.162 or which qualified for deposit under any of those
sections prior to March 6, 1945, shall not be affected by the
amendments made by Acts 1945, c.175.
(b) Investments made before March 6, 1945, not pursuant to the
deposit investment requirements of s.147, s.148, s.149, or s.155
of Acts 1935, c.162 which did not qualify for deposit under any
of these sections prior to March 6, 1945, shall be considered
within the embrace of investments made under paragraph 20 of IC 27-1-12-2(b) and shall be subject to all the provisions applicable
thereto.
(c) Investments described in subdivision (b) and those made
pursuant to paragraph 20 of IC 27-1-12-2(b) may, provided the
life insurance company so elects in a writing filed with the
department, be transferred to any other appropriate paragraph of
IC 27-1-12-2(b) under which they would have qualified if
purchased at the date of such transfer.
Formerly: Acts 1945, c.175, s.6. As amended by P.L.252-1985,
SEC.103; P.L.186-1997, SEC.8.