California Health and Safety Code 51625 – (a) The agency shall cause all moneys in the insurance fund …
(a) The agency shall cause all moneys in the insurance fund which are in excess of current requirements to be invested and reinvested, from time to time, in the same manner as provided for private insurance carriers pursuant to Article 3 (commencing with Section 1170) of Chapter 2 of Part 2 of Division 1 of the Insurance Code.
(b) All interest or other increment resulting from the investment shall be deposited in the insurance fund, notwithstanding § 16305.7 of the Government Code. Moneys in the insurance fund shall not be subject to transfer to any other fund pursuant to Part 2 (commencing with Section 16300) of Division 4 of Title 2 of the Government Code, except the Surplus Money Investment Fund.
Terms Used In California Health and Safety Code 51625
- insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Health and Safety Code 51603
(Added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)