Section 8778 Of Article 4. Special Care From California Health And Safety Code >> Division 8. >> Part 3. >> Chapter 5. >> Article 4.
8778
. The following shall be eligible investments for all special
care trusts:
(a) Bonds of the United States or this state, or of any county,
city, or city and county in this state.
(b) Bonds that are legal investments for commercial banks in this
state.
(c) Certificates of deposit or other interest-bearing accounts in
any bank in this state insured by the Federal Deposit Insurance
Corporation.
(d) Investment certificates or shares in any state or federally
chartered savings and loan association insured by the Federal Savings
and Loan Insurance Corporation.
(e) Investments in first trust deeds on improved real estate,
provided that the loans require monthly amortization of principal and
interest and are fully amortized within 30 years or the term of the
loan, whichever comes first. No loan shall be made to the cemetery
authority, to the director, officer, or stockholder of a cemetery
authority, or trustees of the special care funds, or to partners,
relatives, agents, or employees thereof.
(f) Any investment that is lawful for endowment care funds under
Sections 8751 and 8751.1.