SB 273, 44th R.S.
Relating to providing that any Life Insurance Company of the State, for the purpose of investing its funds, or any part thereof, may purchase and hold as collateral security, or otherwise, and sell and convey the capital stock, bonds, bills of exchange or other commercial notes or bills and securities of any solvent dividend paying corporation which has not defaulted in the payment of any of its obligations for a period of five years, the current market value of which such stock, bonds, bills of exchange, or other commercial notes and securities shall be at all times during the continuance of such loan at least fifty percent more than the sum loaned thereon.
Author: Thomas Jefferson Holbrook
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