CHAPTER 411-A REGULATION OF INVESTMENTS OF LIFE INSURANCE COMPANIES
Section 411-A:5
411-A:5 Authorization; Record of Investments. –
An insurer shall not make any investment of loan, other than policy loans or annuity contract loans, unless the same is authorized or approved by the insurer's board of directors; provided however, that nothing in this chapter shall prohibit an insurer's board of directors from delegating its authority to make and acquire investments and loans. The insurer shall maintain a full record of each investment.