Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Disposal or deduction of investments unlawfully acquired
Insurance (ISC) CHAPTER 28, ARTICLE 14
§ 1412. Disposal or deduction of investments unlawfully acquired. (a)
Every domestic insurer shall forthwith dispose of any investment
acquired in violation of the law in force at the date of acquisition.

(b) In determining the financial condition of any such insurer, the
value of any wholly ineligible investments, and the value of any
investment in excess of any limitation prescribed in this chapter, shall
be deducted as a non-admitted asset of such insurer.