An insurer shall not make any investment or loan (other than policy loans or annuity contract loans of a life insurer) unless the same is authorized or approved by the insurer’s board of directors or by a committee thereof charged with supervision of investments and loans. The insurer shall maintain a full record of each investment.
Del. Code tit. 18, § 1304
Authorization; record of investments
18 Del
Official source: Delaware Code Online. Reproduced from public-domain Delaware statutes; confirm against the official source for the current text. Not legal advice.