§ 23-63-839. Negotiable bills of exchange or time drafts

AR Code § 23-63-839 (2018) (N/A)
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(1) The underlying transaction involves a trade financing and has a maturity no longer than six (6) months sight to run exclusive of days of grace;

(2) The insurer invests not more than twenty-five percent (25%) of its assets in bankers acceptances; and

(3) The insurer invests not more than ten percent (10%) of its assets in any one (1) bankers acceptance in any one (1) financial institution.