(a) Domestic insurers shall invest in or loan their funds on the security of, and shall hold as assets, only eligible investments as prescribed in this chapter.
(b) Any particular investment of a domestic insurer held by it on the effective date of this title and which was a legal investment immediately prior thereto, shall be deemed a legal investment hereunder.
(c) The eligibility of an investment shall be determined as of the date of its making or acquisition.
(d) Except as to section 583 of this title, this chapter applies only to domestic insurers.