A society shall invest its funds only in such investments as 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 which
invests its funds in accordance with the laws of the state, district, territory, county
or province in which it is incorporated, shall be held to meet the requirements of
this section for the investment of funds.
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