Insurance Law 1412 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 1411 Authorization of, and restrictions on, investments up ARTICLE 14 Investments next SECTION 1413 Investments of foreign and alien insurers Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 1412 Disposal or deduction of investments unlawfully acquired Insurance (ISC) CHAPTER 28, ARTICLE 14 § 1412. Disposal or deduction of investments unlawfully acquired. (a) Every domestic insurer shall forthwith dispose of any investment acquired in violation of the law in force at the date of acquisition. (b) In determining the financial condition of any such insurer, the value of any wholly ineligible investments, and the value of any investment in excess of any limitation prescribed in this chapter, shall be deducted as a non-admitted asset of such insurer.