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(a) Domestic insurers shall invest in or loan their funds on the security of, and shall hold as assets, only eligible investments as prescribed in this chapter.
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(b) Any particular investment of a domestic insurer held by it on the effective date of this title and which was a legal investment immediately prior thereto, shall be deemed a legal investment hereunder.
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(c) The eligibility of an investment shall be determined as of the date of its making or acquisition.
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(d) Except as to section 583 of this title, this chapter applies only to domestic insurers.