40-2b03. Canadian government, provincial and municipal obligations.

40-2b03

Chapter 40.--INSURANCE Article 2b.--INVESTMENTS BY LIFE INSURANCE COMPANIES

      40-2b03.   Canadian government, provincial and municipal obligations. Any life insurance company heretofore or hereafter organized under anylaw of this state may invest by loans or otherwise, with the direction orapproval of a majority of its board of directors or authorized committeethereof, any of its funds, or any part thereof in bonds or other evidencesof indebtedness issued, assumed or guaranteed by the Dominion of Canada, orby any province thereof, or by any municipality, district, agency orinstrumentality thereof.

      History:   L. 1972, ch. 179, § 3; July 1.