Section 38-9-120 - Exchange of deposited securitiesA depositing insurer may exchange for the deposited securities, or any of them, other securities eligible for deposit under Sections 38-9-80 to 38-9-140 if, in the opinion of the director or his designee, the aggregate value of the deposit will not be reduced below the amount required by law.
1993 Act No. 181, Section 535; 1962 (52) 2148] recodified as Section 38-9-120 by 1987 Act No. 155, Section 1; Former 1976 Code Section 38-5-720 [1962 Code Section 37-185.5; 1973 (58) 335] has no comparable provisions in 1987 Act No. 155; 1962 Code Section 37-149.1; 1955 (49) 152; 1952 (47) 1893; 1952 Code Section 37-149.1; 1942 Code Section 9049; 1934 (38) 1493; 1932 Code Section 9049; Civ. C. '22 Section 5461; 1919 (31) 133; Former 1976 Code Section 38-9-120 [1918 (30) 763.