Sec. 38a-102e. Loan or investment prohibition. - Connecticut Statutes

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Statutes > Connecticut > Title38a > Chap698 > Sec38a-102e

Sec. 38a-102e. Loan or investment prohibition. No domestic insurer shall make any loan or investment, other than a life insurance policy loan secured by its policies in an amount not exceeding the net reserve value thereof, unless authorized or approved by its board of directors or a committee thereof responsible for supervising or making such loan or investment or by committees or persons pursuant to a delegation of authority. The terms and limitations of any delegation of authority by the board of directors or any committee shall be by its actions which are duly recorded.

(P.A. 91-262, S. 6, 19.)

State Codes and Statutes

Statutes > Connecticut > Title38a > Chap698 > Sec38a-102e

Sec. 38a-102e. Loan or investment prohibition. No domestic insurer shall make any loan or investment, other than a life insurance policy loan secured by its policies in an amount not exceeding the net reserve value thereof, unless authorized or approved by its board of directors or a committee thereof responsible for supervising or making such loan or investment or by committees or persons pursuant to a delegation of authority. The terms and limitations of any delegation of authority by the board of directors or any committee shall be by its actions which are duly recorded.

(P.A. 91-262, S. 6, 19.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Connecticut > Title38a > Chap698 > Sec38a-102e

Sec. 38a-102e. Loan or investment prohibition. No domestic insurer shall make any loan or investment, other than a life insurance policy loan secured by its policies in an amount not exceeding the net reserve value thereof, unless authorized or approved by its board of directors or a committee thereof responsible for supervising or making such loan or investment or by committees or persons pursuant to a delegation of authority. The terms and limitations of any delegation of authority by the board of directors or any committee shall be by its actions which are duly recorded.

(P.A. 91-262, S. 6, 19.)