{"data":{"id":"us-ca/ins-1196","jurisdiction":"us-ca","citation":"INS § 1196","heading":"","body":"Excess funds investments shall not be made in any stock or obligation unless:\n(a) The stock or obligation qualifies as a sound investment.\n(b) In case of a purchase, the price paid for the security is not in excess of the current market value at the date of purchase.\n(c) In case of a loan, the amount loaned does not exceed eighty-five per cent of the market value, at the date of the loan, of the collateral taken as security.","path":["Insurance Code - INS","DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100. - 1879.8.]","PART 2. THE BUSINESS OF INSURANCE [680. - 1879.8.]","CHAPTER 2. Incorporated Insurers [1140. - 1260.]","ARTICLE 4. Property Authorized for Excess Funds Investments [1190. - 1202.]"],"source_url":"https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zip","current_through":"2026-09-13","vintage":"","retrieved_at":"2026-09-14T05:56:33Z","sha256":"a77aacca00584eb35a23ac06d7767e7adf9e33328b0fdccd2c45c0ffaca538be","source_id":"us-ca","stale":false,"prev":"us-ca/ins-1195","next":"us-ca/ins-1196.1"},"notice":"GroundRules: Original legal text. Not legal advice."}