Nonassessable common stock of corporation--Insurance stocks excepted

An insurer may invest in nonassessable common shares, trust certificates, or other equity interests, excluding preferred shares, insurance stocks, or acquisitions subject to subdivision 58-27-17(5) or § 58-27-111 , of any solvent institution existing under the laws of the United States of America or Canada, or any state or province thereof. Source: SL 1966, ch 111 , ch 6, § 14; SL 1997, ch 294 , § 8.