20-209. Kinds of insurance an insurer may
transact
A. An insurer which otherwise qualifies therefor may be authorized to transact any
one kind or combination of kinds of insurance as defined in article 2 of this chapter,
except that:
1. A life insurer shall not be authorized to transact any other kind of insurance
except disability, but if immediately prior to January 1, 1955 any life insurer lawfully
held a subsisting certificate of authority granting it the right to transact in this
state additional kinds of insurance other than disability, as long as the insurer is
otherwise in compliance with this title the director may continue to authorize such
insurer to transact the same kinds of insurance as those specified in such prior
certificate of authority.
2. A reciprocal insurer shall not transact life insurance.
3. A title insurer shall not transact any other kind of insurance.
B. A life insurer authorized to transact life insurance in this state may issue
guaranteed investment contracts. An insurer authorized to issue guaranteed investment
contracts may offer an annuity option as a feature of a guaranteed investment contract.
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