California Insurance Code 1194.5 – Excess funds investments may be made in any debt obligation issued by …
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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 by federal statute; the Commonwealth of Puerto Rico, its agencies and political subdivisions; any state, its agencies or political subdivisions, or by any city, county, or city and county, or by any department or board of such city, county, or city and county, whether issued in bearer, registered or book entry form.
(Amended by Stats. 1983, Ch. 115, Sec. 2.)
Terms Used In California Insurance Code 1194.5
- City: includes "city and county. See California Insurance Code 15
- County: includes "city and county. See California Insurance Code 14
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
- Statute: A law passed by a legislature.