76. No authorized insurer may contract liabilities that vary according to the market value of property that, through those liabilities, it binds itself to hold, unless
(1) it is an insurer authorized to carry on life insurance activities; and
(2) the property constitutes a segregated fund to be used to meet the liabilities for which the property is held before any of the insurer’s other liabilities.
Except for this division, the provisions of this chapter do not apply to segregated funds.