California Insurance Code 10089.47 – Bonds issued by the authority are legal investments for all trust …
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Bonds issued by the authority are legal investments for all trust funds, the funds of all insurance companies, banks, trust companies, executors, administrators, trustees, and other fiduciaries. The bonds are securities that may legally be deposited with, and received by, any state or municipal officer or agency or political subdivision of the state for any purpose for which the deposit of bonds or obligations of the state is now, or may hereafter be, authorized by law, including deposits to secure public funds.
(Added by Stats. 1995, Ch. 944, Sec. 2. Effective January 1, 1996.)
Terms Used In California Insurance Code 10089.47
- Authority: means the California Earthquake Authority. See California Insurance Code 10089.5
- Bonds: means bonds, notes, commercial paper, variable rate and variable maturity securities, and any other evidence of indebtedness. See California Insurance Code 10089.5
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28