A producer reinsurance captive insurance company which determines that bonds, notes, warrants, or other securities of reasonable quality or liquidity, as determined by the company's management and with the approval of the Insurance Commissioner, do not exist for purposes of compliance with Arkansas Code § 23-63-1614(i) shall be permitted to invest such assets, in any amount necessary to comply with the provisions of Arkansas Code § 23-63-1614(i), in certificates of deposit of any:

1. (1) Bank organized under the laws of the United States whose home state is the State of Arkansas; or
2. (2) Federally insured bank or savings institution organized and supervised under the laws of the State of Arkansas.