📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      How are the assets of any insurer in India be kept as

      per the Insurance Act, 1938?
      A In the name of the Authority Correct Answer Incorrect Answer
      B In the name of a public officer approved by the Authority Correct Answer Incorrect Answer
      C In the corporate name of the undertaking, if a company or an insurance co-operative society, as the case may be Correct Answer Incorrect Answer
      D Both (a) & (c) Correct Answer Incorrect Answer
      E Either (b) or (c) Correct Answer Incorrect Answer

      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."

      Practice Next
      More Administrative Interpretation and Maxims Questions

      Relevant for Exams:

      ask-question