California Insurance Code ARTICLE 4 - Property Authorized for Excess Funds Investments

• Section 1190.
  Any domestic incorporated insurer, which maintains in cash on hand or on deposit in a national or state bank, or in securities specified in Article...
• Section 1191.
  Excess funds investments may be made in the stock of any corporation organized and carrying on business under the laws of this or any other...
• Section 1191.1.
  Excess fund investments may be made in the purchase and sale of exchange traded call options on common stock pursuant to this section.An insurer may...
• Section 1191.5.
  (a)Excess fund investments may be made by a domestic life insurer having admitted assets aggregating in value not less than one hundred million dollars ($100,000,000)...
• Section 1192.
  Excess funds investments may be made in:(a) Interest-bearing obligations issued by a nonaffiliate institution, as defined in paragraph (5) of subdivision (f) of Section 1196.1, organized...
• Section 1192.1.
  Excess funds investments may be made in bonds, notes or other obligations issued, assumed or guaranteed by the International Bank for Reconstruction and Development, or...
• Section 1192.2.
  An insurer may lend on the security of a first lien on an unencumbered leasehold on real property if:(a) The real property subject to the leasehold...
• Section 1192.3.
  Excess fund investments may be made by a life insurer having admitted assets aggregating in value not less than two hundred million dollars ($200,000,000) in...
• Section 1192.4.
  No domestic insurer shall have more than 10 percent of its capital and surplus invested in stock of corporations organized under the laws of the...
• Section 1192.5.
  Excess funds investments may be made in all deposits and debt obligations of banks or savings and loan associations whose accounts are insured by an...
• Section 1192.6.
  (a) An insurer, except an insurer authorized to transact mortgage guaranty insurance as defined in Section 119, may invest in a mortgage, mortgage-backed bond, or a...
• Section 1192.7.
  (a) A domestic insurer having admitted assets aggregating in value not less than one hundred million dollars ($100,000,000) may make excess funds investments in participation certificates...
• Section 1192.8.
  (a) A domestic life insurer having admitted assets aggregating in value not less than one hundred million dollars ($100,000,000) may make excess fund investments pursuant to...
• Section 1192.9.
  Notwithstanding Section 1100, a domestic insurer may make excess funds investments in shares of an investment company, as defined in the Federal Investment Company Act...
• Section 1192.95.
  (a) Notwithstanding Section 1100, an insurer may make excess funds investments in investment pools and cash management pools established pursuant to this section. The pools shall...
• Section 1192.10.a.
  (a) Excess funds investments may be made in securities evidencing an undivided interest in, the right to receive payments from, or payable primarily from distributions on...
• Section 1193.
  Excess funds investments may be made in bonds of any permanent road division, or any district of any state when such bonds are legal investments...
• Section 1194.
  Excess funds investments may be made in bonds issued by any county, municipality, or school district in this State to represent assessments for local improvements...
• Section 1194.1.
  Excess funds investments may be made in bonds issued pursuant to the Improvement Bond Act of 1915.(Added by Stats. 1957, Ch. 659.)
• Section 1194.5.
  Excess funds investments may be made in any debt obligation issued by the United States, a federal agency or entity authorized to issue debt obligations...
• Section 1194.6.
  (a) Excess funds investments may be made by an insurer in bonds, notes, or other evidences of indebtedness payable in United States dollars, and issued by...
• Section 1194.7.
  Excess funds investments may be made in the stock of a Federal home loan bank. Any domestic incorporated insurer investing in the stock of a...
• Section 1194.8.
  (a) Excess fund investments may be made by a domestic insurer in real estate and leases thereof and in making improvements thereon for business or residential...
• Section 1194.81.
  Domestic incorporated insurers may invest in notes or bonds secured by a mortgage or other first lien upon unencumbered real property meeting the criteria of...
• Section 1194.82.
  (a) An insurer may invest in notes or bonds secured by second mortgages or other second liens, including all inclusive or wraparound mortgages or liens, upon...
• Section 1194.85.
  In any case in which a domestic insurer has requested the approval of the commissioner to make the investments specified in subdivision (a) or (c)...
• Section 1194.86.
  Every admitted incorporated insurer may purchase, hold, or convey real estate only for the following purposes and in the following manner:(a) The building in which it...
• Section 1194.87.
  If, after a hearing, the commissioner is satisfied that an insurer is carrying upon its books any parcel or parcels of real estate at values...
• Section 1194.88.
  Every admitted incorporated insurer may, for the protection or enhancement of the value of real property acquired under the provisions of Section 1194.86, use its...
• Section 1194.9.
  If the commissioner shall decide, after due notice and hearing that the interest of any company having real estate acquired pursuant to the provisions of...
• Section 1194.95.
  Excess funds investments may be made in an electronic computer or data processing machine or system to be used in connection with the business of...
• Section 1195.
  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...
• Section 1196.
  Excess funds investments shall not be made in any stock or obligation unless:(a) The stock or obligation qualifies as a sound investment.(b) In case of a purchase,...
• Section 1196.1.
  (a) No domestic insurer shall acquire, directly or indirectly, any medium grade or lower grade obligation of any institution if, after giving effect to any such...
• Section 1197.
  Excess funds investments shall not be made in a loan or any other obligation to any one borrower or obligor, including all affiliates which shall...
• Section 1198.
  Excess funds investments shall not be made in purchases of or loans upon shares of the capital stock of any one corporation in an amount...
• Section 1199.
  No domestic incorporated fire, life or marine insurer shall make excess funds investments in purchases of, or loans upon, more than 30 percent of the...
• Section 1200.
  An excess funds investment shall not be made unless authorized or approved by the directors of the investor or by a committee thereof charged with...
• Section 1201.
  The entry of approval shall show:(a) The fact of making such investment.(b) The amount thereof.(c) The name of each director voting to approve the investment.(d) The amount, character and...
• Section 1202.
  The commissioner may, in his discretion and after hearing, by written order require the disposal of any investments made in violation of the provisions of...

Last modified: October 22, 2018