33-12-104. Authorization of investments by board of directors
33-12-104. Authorization of investments by board of directors. (1) An insurer’s board of directors shall adopt a written plan for acquiring and holding investments and for engaging in investment practices that specifies guidelines as to the quality, maturity, and diversification of investments and that contains other specifications including investment strategies intended to ensure that the investments […]
33-12-105. Prohibited investments
33-12-105. Prohibited investments. (1) An insurer may not, directly or indirectly, without the prior written approval of the commissioner: (a) invest in an obligation or security or make a guarantee for the benefit of or in favor of an officer or director of the insurer, except as provided in 33-12-106; (b) invest in an obligation or security of, […]
33-12-106. Loans to officers and directors
33-12-106. Loans to officers and directors. (1) (a) Except as provided in subsection (2), an insurer may not, directly or indirectly, without the prior written approval of the commissioner: (i) make a loan to an officer or director of the insurer or make another investment in a person in which the officer or director has any direct or […]