Find Laws Find Lawyers Free Legal Forms USA State Laws

ARKANSAS STATUTES AND CODES

§ 23-63-839 - Negotiable bills of exchange or time drafts.

23-63-839. Negotiable bills of exchange or time drafts.

An insurer may invest in negotiable bills of exchange or time drafts issued and unconditionally guaranteed by any bank, bank and trust company, national bank association, or domestic branch or agency of a foreign bank subject to reserve requirements under 7 of the National Banking Act of 1978, as amended, provided that:

(1) The underlying transaction involves a trade financing and has a maturity no longer than six (6) months sight to run exclusive of days of grace;

(2) The insurer invests not more than twenty-five percent (25%) of its assets in bankers acceptances; and

(3) The insurer invests not more than ten percent (10%) of its assets in any one (1) bankers acceptance in any one (1) financial institution.

Arkansas Forms by Issue

Arkansas Appeals Forms
Arkansas Auto Accident Forms
Arkansas Child Support Agency Forms
Arkansas Court Forms
> Substance Abuse
Arkansas Divorce Forms
Arkansas Family Forms
Arkansas Tax Forms

Arkansas Law

Arkansas State Laws
    > Arkansas Child Support
    > Arkansas Gun Laws
    > Arkansas Statute
Arkansas State
    > Arkansas State Parks
Arkansas Tax
    > Arkansas State Tax
Arkansas Agencies
    > Arkansas Department of Corrections
    > Arkansas Department of Education
    > Arkansas Federal Credit Union
    > Arkansas Secretary of State
    > Arkansas State Police

Arkansas Court Map

Tips