Any insurance company incorporated in this state may organize, or acquire by purchase, inwhole or in part, subsidiary insurance and investment companies inwhich itowns not less than fifty-one percent of the common stock, and, subject to the approval of the insurance commissioner and provided that no company invest an amount in excess of thirty percent of itscapital and surplus in the stock of such subsidiary companies, may: 1. Invest funds from surplus for each purpose. 2. Make loans to such subsidiaries. 3. Permit allor part ofits officers and directors to serve as officers or directors of any such subsidiary companies.
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