North Carolina General Statutes 58-24-100. Investments
Terms Used In North Carolina General Statutes 58-24-100
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Laws: shall mean the society's articles of incorporation, constitution and bylaws, however designated. See North Carolina General Statutes 58-24-15
- Society: shall mean fraternal benefit society, unless otherwise indicated. See North Carolina General Statutes 58-24-15
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3
A society shall invest its funds only in investments that are authorized by the laws of this State for the investment of assets of life insurers and subject to the limitations thereon. Any foreign or alien society permitted or seeking to do business in this State must comply in substance with the investment requirements and limitations imposed by Article 7 of this Chapter and applicable to life insurers; provided, that any society that invests its funds in accordance with the laws of the state, district, territory, country, or province in which it is incorporated, shall thereby be deemed to be in compliance with the investment requirements and limitations for a period of two years from January 1, 1988. (1987, c. 483, s. 2; 1995, c. 193, s. 29.)