2011 California Code
Insurance Code
DIVISION 2. CLASSES OF INSURANCE [1880 - 12865]
ARTICLE 6. Mortgage Participation Certificates and Trusts
Section 12532
The legality or validity of mortgage policies, securities guaranteed thereby and of mortgage participation certificates heretofore issued which at the date of issuance fully conformed to and complied with the law then in force shall not be affected or impaired by the provisions of this chapter. Such securities guaranteed by mortgage policies and such mortgage participation certificates shall continue to be legal investments and to be acceptable by the State of California, its officers and officials, as deposits, to the extent and in the manner provided by the law in force at date of such issuance.
(Enacted by Stats. 1935, Ch. 145.)
Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
