New Enroll in RBI Grade B New Batch - Starts on May 21

    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."

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