California Statutes
§ 1195. — 1195. (Amended by Stats. 1939, Ch. 480.)
California·Code INS Insurance 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. 4. ARTICLE 4. Property Authorized for Excess Funds Investments
This article does not authorize investments in any obligation unless the obligation is interest or income-bearing or dividend-paying.
An obligation is interest or income-bearing within the meaning of this section if it is not in default in payment of interest or income on the date of acquisition by the insurer and if no such default was imminent on such date.
Nothing in this section contained, however, shall limit or affect the authority conferred by section 1191 of this code.
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California § 1195. (1195. (Amended by Stats. 1939, Ch. 480.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1939, Ch. 480.