18.24  Securities in book-entry form.--Any security which:

(1)(a)  Is eligible to be held in book-entry form on the books of the Federal Reserve Book-Entry System; or

(b)  Is eligible for deposit in a depository trust clearing system established to hold and transfer securities by computerized book-entry systems; and which

(2)(a)  Is held in the name of the State Treasurer or in the name of the State Insurance Commissioner; or

(b)  Is pledged to the State Treasurer or to the State Insurance Commissioner;

under any state law for any purpose whatsoever, may be held in book-entry form on the books of the Federal Reserve Book-Entry System or on deposit in a depository trust clearing system.