California Insurance Code

§ 1170

INS § 1170 Effective Jan 1, 2010Div. 1 · Part 2 · Ch. 2 · Art. 3

Statute text

Domestic incorporated insurers may invest their assets in the purchase of any of the securities specified in this article, or in loans upon such securities, if those purchases or loans conform to all the following conditions:

(a)Such securities are not in default as to principal or interest at the date of investment.

(b)In the case of a purchase, the purchase price does not exceed the market value of the securities at the date of investment.

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Legislative history

Amended by Stats. 2009, Ch. 234, Sec. 7. (AB 299) Effective January 1, 2010.