SECTIONS 8750-8751.1 - California Statutes

HEALTH AND SAFETY CODE

SECTION 8750-8751.1

8750. Endowment care funds shall not be used for any purpose other
than to provide through income only for the reserves authorized by
law and for the endowment care of the cemetery in accordance with the
resolutions, by-laws, rules and regulations or other actions or
instruments of the cemetery authority.

8751. The funds shall be invested and reinvested, and kept invested
in:
(a) Bonds of the United States or this state, or of any county,
city and county, or city in this state.
(b) Bonds legal for investment for savings banks in this state.
(c) First mortgages or first trust deeds on improved real estate.
(d) Income producing improved real estate in any city or city and
county in this state.
(e) Investment certificates in any savings and loan association
organized, existing and doing business under the laws of this state.
(f) Investments of the type enumerated for domestic incorporated
insurers in Article 3, Chapter 2, Part 2, of Division 1 of the
Insurance Code of this state.
(g) By deposit in a bank which is insured by the Federal Deposit
Insurance Corporation.
(h) Shares of a duly chartered and insured federal savings and
loan association.

8751.1. In addition to the requirements of Section 8751, the funds
may be invested and reinvested and kept invested in investments of
the type and in the manner as provided in Part 4 (commencing with
Section 16000) of Division 9 of the Probate Code.