California Insurance Code

§ 1196

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

INS § 1196Div. 1 · Part 2 · Ch. 2 · Art. 4

Excess funds investments shall not be made in any stock or obligation unless:

(a)The stock or obligation qualifies as a sound investment.

(b)In case of a purchase, the price paid for the security is not in excess of the current market value at the date of purchase.

…

Legislative history

Amended by Stats. 1937, Ch. 738.