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
§ 1191.1
California Insurance Code · 2020-11 edition · updated 2026-10-04 · California
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.
(Added by Stats. 1980, Ch. 814, Sec. 1.)
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