(a) Subject to this section, an insurer may invest any of the insurer's funds and
accumulations in a share, stock, share or savings account, or investment certificate
of a savings and loan association engaged in business in this state that is qualified
to participate in insurance issued by the Federal Deposit Insurance Corporation.
(b) An insurer's investment in a savings and loan association may not exceed 20 percent
of the savings and loan association's total assets.
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