Insurance Law 1703 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search previous SECTION 1702 Definitions up ARTICLE 17 Subsidiaries of Domestic Life Insurance Companies and Certain Other Entities next SECTION 1704 Exemptions applicable to subsidiaries; limitations generally Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 1703 Standard of care for investments in subsidiaries Insurance (ISC) CHAPTER 28, ARTICLE 17 § 1703. Standard of care for investments in subsidiaries. In addition to other requirements of law (statutory or otherwise) that affect the standard of care of directors and officers of corporations, directors and officers shall perform their duties in connection with investments in, or other acquisitions of, subsidiaries in good faith and with that degree of care that an ordinarily prudent individual in a like position would use under similar circumstances.