An insurer may invest in bonds, notes, or evidences of indebtedness of any municipal or county utility within the United States or Canada, which are payable from revenues or earnings specifically pledged for the payment of the principal and interest on the obligations, and for the payment of which a lawful sinking fund or reserve fund has been established and is being maintained, but only if no default in payment of principal or interest on the obligations to be purchased has occurred within five (5) years of the investment.
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