Section 32-1-708 - Limited application of insurance law - exemption(1) Nothing in this part exempts a common trust fund or any fiduciary thereof from the requirements of Title 33 if such common trust fund or fiduciary is used for insurance purposes.(2) The establishment and maintenance of common trust funds under this part are exempt from the provisions of Title 30, chapter 10.En. Sec. 4, Ch. 213, L. 1981.