§ 58-7-168. Authorization of investment. - North Carolina Statutes

§58‑7‑168.  Authorization of investment.

An insurer shall not make anyinvestment or loan, other than a policy loan or annuity contract loan of a lifeinsurer, unless the investment or loan is authorized or approved by theinsurer's board of directors or by a committee authorized by the board andcharged with the supervision or making of the investment or loan.  The minutesof any such committee shall be recorded and regular reports of the committeeshall be submitted to the board of directors. (1991, c. 681, s. 29.)