An insurer may invest in bonds, notes, or evidences of indebtedness of any municipal or county utility within the United States or Canada, which are payable from revenues or earnings specifically pledged for the payment of the principal and interest on the obligations, and for the payment of which a lawful sinking fund or reserve fund has been established and is being maintained, but only if no default in payment of principal or interest on the obligations to be purchased has occurred within five (5) years of the investment.
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 23-63-816 NextLast modified: November 15, 2016