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    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┬а ┬а"(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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