Savings and share accounts.

An insurer may invest or deposit any of its funds in share or savings accounts of savings and loan associations, or in savings accounts of banks, and in any one such institution only to the extent that such an account is insured by the Federal Savings and Loan Insurance Corporation or the Federal Deposit Insurance Corporation.

[1947 c 79 § .13.20; Rem. Supp. 1947 § 45.13.20.]