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California CodesBusiness and Professions Code - BPCDivision 3 — Professions and Vocations GenerallyChapter 12 — Cemetery and Funeral ActArticle 1.5 — Definitions and Regulation of CemeteriesSection 7614.8

Any security or other evidence of debt if in default as to principal or interest or if not amply secured shall not be valued as an asset of the endowment care fund above its market value.

Notes

Limits the value assigned as an endowment-care-fund asset to any security or other evidence of debt that is in default on principal or interest or is not amply secured. Such an asset may not be valued above its market value when included in the fund.

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Use as reference

Lexinter.net | California Code, Business and Professions Code - BPC § 7614.8 | https://laws.lexinter.net/codes/california/business-and-professions-code/division-3/chapter-12/article-1-5/section-7614-8

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