California § 1178. 1178. (Amended by Stats. 1937, Ch. 738.)

California Statutes

§ 1178. — 1178. (Amended by Stats. 1937, Ch. 738.)

California § 1178.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 1.DIVISION 1. GENERAL RULES GOVERNING INSURANCE

Part 2.PART 2. THE BUSINESS OF INSURANCE

Ch. 2.CHAPTER 2. Incorporated Insurers

Art. 3.ARTICLE 3. General Investments

This text of California § 1178. (1178. (Amended by Stats. 1937, Ch. 738.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 1178. (2026).

Text

Such insurers may invest in collateral trust bonds or notes, secured by any of the following:

(a)A deposit of obligations authorized for investment by this article or Articles 4, 5, or 6 of this chapter having a market value at least fifteen per cent in excess of the par value of the collateral trust bonds or notes issued.

(b)A deposit of obligations authorized for investment by this article or Articles 4, 5, or 6 of this chapter, together with other securities, the combined market value of the deposit being at least twenty per cent in excess of the par value of the collateral trust bonds or notes issued, with the par value of the collateral trust bonds or notes not exceeding the market value of the deposited obligations which are authorized for investment by this article or Articles 4,

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Such insurers may invest in collateral trust bonds or notes, secured by any of the following:
(a)
A deposit of obligations authorized for investment by this article or Articles 4, 5, or 6 of this chapter having a market value at least fifteen per cent in excess of the par value of the collateral trust bonds or notes issued.
(b)
A deposit of obligations authorized for investment by this article or Articles 4, 5, or 6 of this chapter, together with other securities, the combined market value of the deposit being at least twenty per cent in excess of the par value of the collateral trust bonds or notes issued, with the par value of the collateral trust bonds or notes not exceeding the market value of the deposited obligations which are authorized for investment by this article or Articles 4, 5, or 6 of this chapter.
(c)
A deposit of obligations authorized for investment by this article, or Articles 4, 5, or 6 of this chapter, together with other securities, and conforming to the following requirements:
(1)
The combined market value of the deposit is at least thirty per cent in excess of the par value of the collateral trust bonds or notes issued.
(2)
The par value of such collateral trust bonds or notes issued does not exceed the market value of deposited obligations authorized for investment by this article.
(3)
The deposited collateral consists of obligations authorized for investment by this article, or Articles 4, 5, or 6 of this chapter, having a market value of at least seventy-five per cent of the par value of such collateral trust bonds or notes issued.