ARTICLE 4. Property Authorized for Excess Funds Investments [1190. - 1202.]

Article 4 enacted by Stats. 1935, Ch. 145.

§§ 1190–1202 · 40 sections

§ 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 3…
§ 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 state, or of the…
§ 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 sell…
§ 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…
§ 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)…
§ 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…
§ 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 is…
§ 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…
§ 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 Dominion of…
§ 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 agency or…
§ 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,…
§ 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…
§ 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…
§ 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…
§ 1192.95 (a) Notwithstanding Section 1100, an insurer may make excess funds investments in investment pools and cash management pools established pursuant to this…
§ 1192.10 (a) Excess funds investments may be made in securities evidencing an undivided interest in, the right to receive payments from, or payable primarily from…
§ 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 for savings…
§ 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…
§ 1194.1 Excess funds investments may be made in bonds issued pursuant to the Improvement Bond Act of 1915.
§ 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 by…
§ 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 a…
§ 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 Federal home loan…
§ 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…
§ 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…
§ 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…
§ 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) of 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…
§ 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 exceeding the…
§ 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…
§ 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…
§ 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 the insurer;…
§ 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…
§ 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…
§ 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…
§ 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 be treated as…
§ 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 exceeding 10 percent…
§ 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 total in…
§ 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 the duty of…
§ 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…
§ 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 this…