Section 58-7-13 - Assignment to director of securities not negotiable by delivery--Power of attorney

58-7-13. Assignment to director of securities not negotiable by delivery--Power of attorney.The director shall require the insurer to either assign to the director and his successors in office all securities being deposited under this title which are not negotiable by delivery or to give the director irrevocable power of attorney authorizing the transfer of the securities or any part thereof then or thereafter on deposit for any purpose within the scope of the director's statutory powers. Source: SL 1966, ch 111, ch 7, §8 (1); SL 1991, ch 398, §4.