Statute · California Insurance Code
Cal. Ins. Code § 11521.2 — Grants and Annuities Societies
Cal. Ins. Code § 11521.2
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2005-09-22
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) The reserve required by the table of commensurate values for each annuity contract issued must be invested in investments specified in Sections 1170 through 1182 except that a certificate holder may invest in investment companies registered under the federal Investment Company Act of 1940,…
Citator
Cal. Ins. Code § 11521.2 — Grants and Annuities Societies is in force in the current edition of the Code, and nothing recorded condemns it.
(a) The reserve required by the table of commensurate values for each annuity contract issued must be invested in investments specified in Sections 1170 through 1182 except that a certificate holder may invest in investment companies registered under the federal Investment Company Act of 1940, and in securities, including interests in those investment companies, listed and traded on the New York Stock Exchange, the American Stock Exchange or regional stock exchanges or the National Market System of the Nasdaq Stock Market or successors to such exchanges or market having the same qualifications, to the extent of the lesser of net worth (assets over liabilities and reserves) of the certificate holder or 50 percent of these general investments. This section does not permit investment in options or commodity exchanges.
(b) The certificate holder may invest in other investments as permitted by and subject to the written consent of the commissioner.