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 3 (commencing with Section 1170), an amount equal to its required minimum paid-in capital, may invest the remainder of its assets in the purchase of, or loans upon the securities set forth in this article. The investments are known as excess funds investments and are subject to the restrictions set forth in this article.

(Amended by Stats. 1983, Ch. 142, Sec. 83.)

Terms Used In California Insurance Code 1190

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Domestic: means organized under the laws of this State, whether or not admitted. See California Insurance Code 26
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
  Previous section
Next section  
 Article 4 Contents