US Laws, Codes, Statutes & Cases

                                  TITLE  41
                                  INSURANCE
                                  CHAPTER 8
                          ADMINISTRATION OF DEPOSITS
    41-806.  ASSIGNMENT OF SECURITIES. (1) The insurer shall duly assign to
the director and his successors in office in trust all securities being
deposited through him under this code which are not negotiable by delivery;
or, in lieu of such assignment, the insurer may give the director an
irrevocable power of attorney authorizing him to transfer the securities or
any part thereof for any purpose within the scope of this chapter.
    (2)  Upon release to the insurer, or other person entitled thereto, of any
such security the director shall reassign the same to such insurer or person;
or, in the case of power of attorney given pursuant to subsection (1) above,
he shall deliver the power of attorney, together with the securities covered
thereby, to the insurer or person entitled thereto.