Maine Statutes
§ 24-A §1132 — Conversion and incidental rights
Nothing in this chapter shall be deemed to prohibit an insurer from making an investment otherwise authorized under this chapter, because the investment is convertible into other securities in which the insurer is not permitted to invest under this chapter, or because the insurer receives in connection with such investment stock warrants, whether or not detachable, stock options, stock, property interests or other assets of any kind. Anything so received by the insurer and in which the insurer is otherwise not authorized to invest shall be carried on its books at no value.
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Maine § 24-A §1132 (Conversion and incidental rights) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
PL 1969, c. 132, §1 (NEW).
Nearby Sections
15
§ 24 §1
Insurance contract§ 24 §1002
Formation of corporation; guaranty fund; authority to write business; liability of policyholder§ 24 §1004
Assigned risks; reinsurance§ 24 §1008
Calls for payments; proceeds§ 24 §1012
Annual report; examinations§ 24 §1013
Filing fees§ 24 §1051
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