California Code, Insurance Code - INS § 12372

(a) They may be treated as an asset, valued at actual cost to the insurer not in excess of 50 per cent  1 of the aggregate par value of the shares of the insurer's capital stock then issued outstanding, and apportioned to its title insurance department, including treasury shares;

(b) They may be treated as an asset, at such lesser value than that permitted by paragraph (a) of this section as the insurer estimates;

(c) They may be omitted entirely from the statement or proceeding.