Any domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries engaged in the following kinds of business:

1. (1) any kind of insurance business authorized by the jurisdiction in which it is incorporated;
2. (2) acting as an insurance broker or as an insurance producer for its parent or for any of its parent's insurer subsidiaries;
3. (3) investing, reinvesting, or trading in securities for its own account, that of its parent, any subsidiary of its parent, or any affiliate or subsidiary;
4. (4) management of any investment company subject to or registered pursuant to the Investment Company Act of 1940, as amended, including related sales and services;
5. (5) acting as a broker-dealer subject to or registered pursuant to the Securities Exchange Act of 1934, as amended;
6. (6) rendering investment advice to governments, government agencies, corporations, or other organizations or groups;
7. (7) rendering other services related to the operations of an insurance business, including but not limited to actuarial, loss prevention, safety engineering, data processing, accounting, claims, appraisal, and collection services;
8. (8) ownership and management of assets which the parent corporation could itself own or manage;
9. (9) acting as administrative agent for a governmental instrumentality which is performing an insurance function;
10. (10) financing of insurance premiums, insurance producers, and other forms of consumer financing;
11. (11) any other business activity determined by the commissioner to be reasonable ancillary to an insurance business;
12. (12) owning a corporation or corporations engaged or organized to engage exclusively in one or more of the businesses specified in this section.

History: En. Sec. 2, Ch. 64, L. 1971; R.C.M. 1947, 40-5510(a); amd. Sec. 1, Ch. 713, L. 1989.