33-4-404. Expenditure of funds for educational purposes. An insurer may spend in any one year up to 5% of its net earnings of the preceding year for educational purposes. A complete and itemized report of such expenditures shall be filed by the insurer as part of its annual report required under 33-4-313.

     History: En. Sec. 503, Ch. 286, L. 1959; R.C.M. 1947, 40-4836.