Section 1194.5 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 any debt obligation issued by the United States, a federal agency or entity authorized to issue debt obligations by federal statute; the Commonwealth of Puerto Rico, its agencies and political subdivisions; any state, its agencies or political subdivisions, or by any city, county, or city and county, or by any department or board of such city, county, or city and county, whether issued in bearer, registered or book entry form.