48.13.090 - Trustees' or receivers' obligations.

Trustees' or receivers' obligations.

An insurer may invest any of its funds, in an aggregate amount not exceeding two percent of its assets, in certificates, notes, or other obligations issued by trustees or receivers of institutions existing under the laws of the United States or of any state, district or territory thereof, which, or the assets of which, are being administered under the direction of any court having jurisdiction, if such obligation is adequately secured as to principal and interest.

[1947 c 79 § .13.09; Rem. Supp. 1947 § 45.13.09.]