40-2b15. Savings and loan shares or deposits.

40-2b15

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

      40-2b15.   Savings and loan shares or deposits.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 shares or savingsdeposits in a federally insured savings and loan association.

      History:   L. 1972, ch. 179, § 15; July 1.