Indiana § 27-8-3-13 Authority to deposit securities; investment of reserve funds

Indiana Statutes

§ 27-8-3-13 — Authority to deposit securities; investment of reserve funds

Indiana·Title 27 INSURANCE·Art. 8 LIFE, ACCIDENT, AND HEALTH·Ch. 3 Mutual Life and Accident─Formation

This chapter shall not be construed to limit
the accumulation of a reserve or emergency fund by any corporation,
association, or society subject to the provisions of this chapter. Any
such corporation, association, or society may, in its discretion, through
its officers or directors, deposit with the insurance commissioner such
securities and for such amounts as may be approved by him, and, when
so deposited, shall be retained by him for the purposes described in this
chapter. All other investments of reserve funds shall be made in the
same class of securities as are allowed by law for the investment of
funds by insurance corporations.
Formerly: Acts 1897, c.195, s.13. As amended by P.L.252-1985,
SEC.285.

Free access — add to your briefcase to read the full text and ask questions with AI

This chapter shall not be construed to limit
the accumulation of a reserve or emergency fund by any corporation,
association, or society subject to the provisions of this chapter. Any
such corporation, association, or society may, in its discretion, through
its officers or directors, deposit with the insurance commissioner such
securities and for such amounts as may be approved by him, and, when
so deposited, shall be retained by him for the purposes described in this
chapter. All other investments of reserve funds shall be made in the
same class of securities as are allowed by law for the investment of
funds by insurance corporations.
Formerly: Acts 1897, c.195, s.13. As amended by P.L.252-1985,
SEC.285.

Indiana § 27-8-3-13 (Authority to deposit securities; investment of reserve funds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.