Question
According to the Insurance Act, how should the assets in
India of any insurer be kept, except in certain circumstances?Solution
Section 31 Assets of insurer how to be kept- (1) None of the assets in India of any insurer shall, except in so far as assets are required to be vested in trustees under sub-section (7) of section 27, be kept otherwise than in the name of a public officer approved by the Authority, or in the corporate name of the undertaking, if a company or an insurance co-operative society, as the case may be. Â
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