58-7-10. Deposits of reserves of domestic life insurer--Assets comprising--Holding for common benefit of policyholders and annuity contracts. Deposits of the reserves of a domestic life insurer shall consist of securities and assets permitted for investment by chapter 58-27. Deposits of reserves made by domestic life insurers shall be held for the common benefit of all the holders of its life insurance policies and annuity contracts.
Source: SL 1966, ch 111, ch 7, §§ 3 (3), 4 (3).
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