(a) An insurer shall not make any investment or loan, other than policy loans or annuity contract loans of a life insurer, unless the insurer is authorized or approved by the insurer's board of directors or by a committee authorized by the board and charged with the supervision or making of the investment or loan.
(b) The minutes of the committee shall be recorded and regular reports of the committee shall be submitted to the board of directors.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Chapter 63 - Insurance Companies Generally
§ 23-63-802. Eligible investments
§ 23-63-803. General qualifications
§ 23-63-804. Authorization of investment
§ 23-63-805. Diversification of investments
§ 23-63-806. United States Government obligations
§ 23-63-807. Loans guaranteed by United States
§ 23-63-808. Investments in public obligations
§ 23-63-809. Municipal or county utilities
§ 23-63-810. Improvement district obligations
§ 23-63-811. Local industrial development bonds
§ 23-63-812. Obligations or stock of certain federal agencies
§ 23-63-813. International banks
§ 23-63-814. Corporate bonds and debentures
§ 23-63-815. Preferred or guaranteed stock
§ 23-63-818. Stocks of subsidiaries
§ 23-63-819. Equipment trust certificates
§ 23-63-820. Investment trust securities
§ 23-63-823. Savings and loan associations
§ 23-63-824. Foreign securities
§ 23-63-825. Additional investment authority
§ 23-63-826. Real estate mortgages
§ 23-63-827. Chattel mortgages
§ 23-63-829. Time limit for disposal of real estate
§ 23-63-830. Time limit for disposal of other ineligible property and securities
§ 23-63-831. Failure to dispose of real estate, property, or securities
§ 23-63-832. Special investments by title insurer
§ 23-63-833. Prohibited investments
§ 23-63-834. Cancellation of treasury stock
§ 23-63-835. Investments of foreign insurers
§ 23-63-836. Certificates of deposit
§ 23-63-837. Property and facilities for fossil or synthetic fuel production
§ 23-63-839. Negotiable bills of exchange or time drafts
§ 23-63-840. Mortgage-backed securities