A society shall invest its funds only in such investments as are authorized by Chapter 59A, Article 9 NMSA 1978 for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this state which invests its funds in accordance with the laws of the state, district, territory, country or province in which it is incorporated, shall be held to meet the requirements of this section for the investment of funds.
History: 1978 Comp., § 59A-44-21, enacted by Laws 1989, ch. 388, § 21.
Repeals and reenactments. — Laws 1989, ch. 388, § 21, repealed 59A-44-21 NMSA 1978, as enacted by Laws 1984, ch. 127, § 806, relating to accident and health insurance, and enacted a new section, effective January 1, 1990.
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