California Insurance Code

§ 1250

INS § 1250Div. 1 · Part 2 · Ch. 2 · Art. 7

Statute text

When any domestic incorporated insurer has, pursuant to the laws of this State, invested any of its funds in purchases of, or loans upon, the stock or obligations of a corporation or of a nation, state, or political or municipal division of a state, if the commissioner has reason to believe that such stock or obligations are not amply secured or are not yielding an income, he may direct the insurer to report to him under oath the amount of the stock or obligation, the security therefor and its market value.

Legislative history

Enacted by Stats. 1935, Ch. 145.