Section 27-41-27 Particular investments - Securities of foreign countries. - Alabama Statutes

Section 27-41-27

Particular investments - Securities of foreign countries.

An insurer authorized to transact insurance in a foreign country may make investments, in an aggregate amount not exceeding its obligations incurred in such country, in securities of or in such country possessing characteristics similar to like investments required pursuant to this chapter for investments in the United States of America. Canadian securities eligible for investment under other provisions of this chapter are not subject to this section.

(Acts 1977, No. 408, p. 530, §27.)