California § 1241.1. 1241.1. (Repealed and added by Stats. 2008, Ch. 129, Sec. 7.)

California Statutes

§ 1241.1. — 1241.1. (Repealed and added by Stats. 2008, Ch. 129, Sec. 7.)

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. 6. ARTICLE 6. Foreign Investments

(a)No domestic insurer shall acquire any investment respecting a foreign jurisdiction, or any investment denominated in the currency of that foreign jurisdiction, if that jurisdiction is designated as a state sponsor of terrorism by the United States Secretary of State pursuant to Section 6(j) of the Export Administration Act, Section 40 of the Arms Export Control Act, and Section 620A of the Foreign Assistance Act.

(b)If any investment made pursuant to Section 1241 later becomes prohibited by this section, that investment shall not be retained as an investment made pursuant to this code.

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(a)
No domestic insurer shall acquire any investment respecting a foreign jurisdiction, or any investment denominated in the currency of that foreign jurisdiction, if that jurisdiction is designated as a state sponsor of terrorism by the United States Secretary of State pursuant to Section 6(j) of the Export Administration Act, Section 40 of the Arms Export Control Act, and Section 620A of the Foreign Assistance Act.
(b)
If any investment made pursuant to Section 1241 later becomes prohibited by this section, that investment shall not be retained as an investment made pursuant to this code.

California § 1241.1. (1241.1. (Repealed and added by Stats. 2008, Ch. 129, Sec. 7.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.