48.31B.010 - Insurer ceases to control subsidiary -- Disposal of investment.

Insurer ceases to control subsidiary — Disposal of investment.

If an insurer ceases to control a subsidiary, it shall dispose of any investment in the subsidiary within three years from the time of the cessation of control or within such further time as the commissioner may prescribe, unless at any time after the investment has been made, the investment meets the requirements for investment under any other section of this Title, and the insurer has notified the commissioner thereof.

[1993 c 462 § 3.]