LawgistThe Insurance Act
32BInsurance business in rural and social sectors
1[32B. Insurance business in 2[rural and social sectors].--Every insurer shall, after the commencement of the Insurance Regulatory and Development Authority Act, 1999 , undertake such percentages of life insurance business and general insurance business in the 2[rural and social sectors], as may by specified, in the Official Gazette by the Authority, in this behalf.]
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1. Ins. by Act 41 of 1999, s. 30 and the First Schedule (w.e.f. 19-4-2000).
2. Subs. by Act 5 of 2015, s. 35, for "rural or social sector" (w.e.f. 26-12-2014).
INVESTMENT, LOANS AND MANAGEMENT
- 27 Investment of assets
- 27A Further provisions regarding investments
- 27B Provisions regarding investments of assets of insurer carrying general insurance business
- 27C Investment by insurer in certain cases
- 27D Manner and conditions of investment
- 27E Prohibition for investment of funds outside India
- 28 Statement and return of investment of assets
- 29 Prohibition of loans
- 30 Liability of directors, etc.,for loss due to contravention of section 27,27A,27B,27C,27D or section 29
- 31 Assets of insurer how to be kept
- 31A Provisions relating to managers, etc
- 31B Power to restrict payment of excessive remuneration
- 32 [Omitted.]
- 32A Prohibition of common officers and requirement as to whole-time officers
- 32B Insurance business in rural and social sectors
- 32C Obligations of insurer in respect of rural or unorganised sector and backward classes
- 32D Obligation of insurer in respect of insurance business in third party risks of motor vehicles
