§431:6-404 Authorization of investments. No investment, loan, sale, or exchange, except a loan upon a life insurance policy, shall be made by any domestic insurer unless authorized or approved by its board of directors or by a committee charged by the board of directors, or the bylaws with the duty of making such investment, loan, sale, or exchange. The minutes of any such committee shall be recorded and reports shall be submitted to the board of directors for approval or disapproval. [L 1987, c 347, pt of §2]
Section: Previous 431-6-321 431-6-322 431-6-323 431-6-324 431-6-401 431-6-402 431-6-403 431-6-404 431-6-501 431-6-601 431-6-602 431-7-101 431-7-202 431-7-202.5 431-7-203 NextLast modified: October 27, 2016