Statute · California Insurance Code
Cal. Ins. Code § 1191.1 — Property Authorized for Excess Funds Investments
Cal. Ins. Code § 1191.1
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
Excess fund investments may be made in the purchase and sale of exchange traded call options on common stock pursuant to this section.
Citator
Cal. Ins. Code § 1191.1 — Property Authorized for Excess Funds Investments is in force in the current edition of the Code, and nothing recorded condemns it.
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 exchange traded call options only through an exchange and only with respect to stock which it owns. Common stock that is obligated under an unexpired written call option shall not be sold unless the insurer first enters into a closing purchase transaction. An insurer shall not sell any other options pursuant to this section.
An insurer may purchase exchange traded call options only through an exchange and only for the purpose of a closing purchase transaction. An insurer shall not purchase any other options pursuant to this section.