Alabama Code (Last Updated: November 28, 2014) |
Title27 INSURANCE. |
Chapter41. INVESTMENTS OF LIFE, DISABILITY AND BURIAL INSURANCE COMPANIES. |
§27-41-22. Particular investments - Loans secured by liens on interests in oil, gas or condensate properties, etc.
Latest version.
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An insurer may invest in adequately secured loans secured by first liens on interests in oil, gas or condensate properties or leaseholds in the United States and Canada on which there are fully completed commercially producing wells.