§ 36-13-5 - Annuity and insurance contracts.
SECTION 36-13-5
§ 36-13-5 Annuity and insurance contracts.– Notwithstanding any other provision of law to the contrary, those personsdesignated to administer the deferred compensation program are herebyauthorized to make payments for the purchase of government securities, mutualfunds, fixed or variable life insurance, or annuity contracts under thedeferred compensation program. The payments shall not be construed to be aprohibited use of the general assets of the state, county, city, or otherpolitical subdivision.