Section 1194.7 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 the stock of a Federal home loan bank. Any domestic incorporated insurer investing in the stock of a Federal home loan bank and thereby becoming a member thereof shall have power (a) to obtain advances from, and (b) to pledge collateral as security for such advances from such Federal home loan bank.