An insurer may invest in bonds, debentures, notes, mortgage-backed securities, asset-backed securities, and other evidences of indebtedness issued, assumed or guaranteed by any solvent institution created or existing under the laws of the United States or Canada or of any state, district, province or territory thereof, which are not in default as to principal or interest.
Source. 1978, 11:1. 2009, 186:10, eff. Jan. 1, 2010.