Ins. Code, § 1195 · Article 4. Property Authorized for Excess Funds Investments
Ins. Code, § 1195
Text — As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
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.
Notes and commentary — not statutory text
History
Amended by Stats. 1939, Ch. 480.
Source of truth
- Edition
- As published in the Legislative Counsel's database, tables dated October 18, 2026 (pubinfo_2025.zip)
- Official file
- https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS§ionNum=1195.
- Text hash
- sha256 6fc0996b90b3b488d9d67d6f790e7d0ad2a9062f88b0f54ebc747002e5f821c8
- Composed by
- compose_ca.py 2026-10-22: the Legislative Counsel's CAML content files read by a tokenizer (caml_readers.reader_a); an independent xml.etree reading (caml_readers.reader_b) agrees on every section
Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.