Deposits shall be held for purposes as follows:
(1) Deposits made in this state under § 23-63-206 shall be held for the purposes stated in that section;
(2) A deposit made in this state by a domestic insurer transacting insurance in another state, province, or country and as required by the laws of that state, province, or country shall be held for the protection of the insurer's policyholders, or policyholders and creditors;
(3) Deposits of reserves made by domestic life insurers under § 23-81-130 shall be held for the common benefit of all the holders of its life insurance policies and annuity contracts; and
(4) Deposits required pursuant to the retaliatory provisions, §§ 23-63-102 -- 23-63-104, shall be held for such purposes as required by such laws and as specified in the Insurance Commissioner's order requiring the deposit.
Section: 23-63-902 23-63-903 23-63-904 23-63-905 23-63-906 23-63-907 23-63-908 23-63-909 23-63-910 23-63-911 23-63-912 NextLast modified: November 15, 2016