In any report to the bureau, all bonds, debentures, or other evidences of debt held by a cemetery corporation if amply secured and if not in default as to principal or interest may be valued as follows:
(a)
If purchased at par at the par value.(b)
If purchased above or below par on the basis of the purchase price adjusted so as to bring the value to par at maturity and so as to yield the effective rate of interest on the basis at which the purchase was made.(c)
In such valuation, the purchase price shall in no case be taken at a higher figure than the actual market value at the time of purchase.
Source:
Section 7614.7, https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=BPC§ionNum=7614.7..