20-537. Investment of funds in United States obligations; accounting A. An insurer may invest any of its funds in: 1. Bonds or other evidences of indebtedness of the United States or any of its agencies or instrumentalities when such obligations are guaranteed as to principal and interest by the United States or any agency or instrumentality of the United States. 2. Bonds or other evidences of indebtedness which are guaranteed as to principal and interest by the United States or by any agency or instrumentality of the United States. 3. Bonds, debentures or other obligations issued by the federal land banks, the federal intermediate credit banks or the banks for cooperatives and the federal farm credit banks consolidated systemwide bonds. B. This title does not prohibit the acquisition by an insurer licensed in this state of United States government securities, the purchase of which is permitted by statute, in accordance with the federal reserve system program of book entry accounting.
Arizona Legal Code