Section 12051 Of Article 1. Capital And Scope Of Business From California Insurance Code >> Division 2. >> Part 4. >> Chapter 1. >> Article 1.

. During the first three years following its admission, the insurer's assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is approved by the commissioner, of the United States government, any State, or any county in this State.