(a) An insurer may invest in bonds or other evidences of indebtedness which are general obligations of, or are secured by pledge of specific revenue by, this state or any other state of the United States, or any of the counties or incorporated cities or towns, or duly organized school districts or other taxing districts of such states.
(b) No security shall be eligible for investment if within five (5) years next preceding the date of the proposed investment, the obligor has defaulted in the payment of principal or interest on any of its tax-supported obligations.
Section: Previous 23-63-802 23-63-803 23-63-804 23-63-805 23-63-806 23-63-807 23-63-808 23-63-809 23-63-810 23-63-811 23-63-812 23-63-813 23-63-814 23-63-815 NextLast modified: November 15, 2016