Section 1192.5 Of Article 4. Property Authorized For Excess Funds Investments From California Insurance Code >> Division 1. >> Part 2. >> Chapter 2. >> Article 4.

. Excess funds investments may be made in all deposits and debt obligations of banks or savings and loan associations whose accounts are insured by an agency or instrumentality of the federal government including accounts or certificates of deposit not subject to Section 1182, bankers' acceptances, and commercial paper.