-
- Securities qualified for deposit under § 56-2-104 may be deposited with a clearing corporation.
- Securities deposited with a clearing corporation and used to meet the deposit requirements set forth in § 56-2-104 shall be under the control of the commissioner and shall not be withdrawn by the insurance company without the approval of the commissioner.
- Any insurance company holding securities as provided in subsection (a) shall provide to the commissioner evidence issued by its custodian through which the insurance company has deposited securities in a clearing corporation, in order to establish that:
- The securities are actually recorded in an account in the name of the custodian; and
- The records of the custodian reflect that such securities are held subject to the order of the commissioner.
