California · Insurance Code
INS §1195: This article does not authorize investments in any obligation unless the obligation is interest or income-bearing or dividend-paying.
Read the full statutory text
This article does not authorize investments in any obligation unless the obligation is interest or income-bearing or dividend-paying. An obligation is interest or income-bearing within the meaning of this section if it is not in default in payment of interest or income on the date of acquisition by the insurer and if no such default was imminent on such date. Nothing in this section contained, however, shall limit or affect the authority conferred by section 1191 of this code.
Verify at the official source: California legislative text
Facing this? Know exactly what happens next.
MOFRD turns this code section into your situation: the deadlines that apply to you, the forms your county uses, and the resolution paths people in your position actually take. Free for 3 days — no card required.
This page is legal information, not legal advice. Code text is sourced from official publications and may lag amendments — always confirm at the official source linked above. Plain-English summaries and relationship data are AI-derived and reviewed on an ongoing basis; verify with a licensed attorney before acting.