California Insurance Code

§ 1240

INS § 1240 Effective Jan 1, 2009Div. 1 · Part 2 · Ch. 2 · Art. 6

Statute text

The following definitions shall apply in this article:

(a)“Foreign currency” means a currency other than that of the United States.

(b)“Foreign investment” means an investment in a foreign jurisdiction, or an investment in a person, real estate, or asset domiciled in a foreign jurisdiction, that is substantially of the same kind, class, and investment grade as those eligible for investment under this code, other than under Section 1210 or 1241. An investment shall not be a foreign investment if the issuing person, qualified primary credit source, or qualified guarantor is a domestic jurisdiction or a person domiciled in a domestic jurisdiction, unless both of the following apply:

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Legislative history

Repealed and added by Stats. 2008, Ch. 129, Sec. 3. Effective January 1, 2009.