California Insurance Code

§ 10459

INS § 10459Div. 2 · Part 2 · Ch. 5 · Art. 2

Statute text

If such insurer owns the building in which it has its principal office and the land upon which it stands, or if it owns other real property located in this State and requisite for its accommodation in the convenient transaction of its business, it may, with the permission of the commissioner, mortgage such property to the commissioner for such sum, not exceeding the market value thereof, as he determines.

Legislative history

Enacted by Stats. 1935, Ch. 145.