California Insurance Code ARTICLE 11 - Deposit of Securities

• Section 939.
  Except as otherwise expressly provided, all deposits of securities with the commissioner shall be subject to the provisions of this article.(Added by Stats. 1937, Ch.
• Section 940.
  The commissioner shall accept and hold securities in trust for the policyholders or policyholders and creditors of an insurer and for their benefit, whenever (a)...
• Section 940.1.
  The commissioner shall require the payment of fifty-eight dollars ($58) in lawful money of the United States in advance for receiving and processing securities or...
• Section 941.
  Such deposited securities shall not be estimated above their par value nor above their market value, except that preferred stock shall be estimated only at...
• Section 942.
  The commissioner shall permit a deposit of those securities in the State Treasury, subject to the provisions of Section 11691, if applicable. The securities deposited...
• Section 943.
  So long as the insurer continues solvent the commissioner shall permit it to collect the interest or dividends on the securities so deposited, and from...
• Section 944.
  Securities deposited under the provisions of this article shall not be withdrawn from the State treasury except upon the written order of the insurer making...
• Section 945.
  If the deposit is of mortgages, it shall be accompanied either by full abstracts of title with the fees for examination of title, or by...
• Section 946.
  If the deposit is of stocks or bonds, it shall be accompanied by the fees necessary for the appraisal thereof, except as otherwise provided by...
• Section 948.
  Whenever an insurer has deposited with the commissioner the requisite security, in conformity with the requirements of this article, the commissioner shall issue to such...
• Section 949.
  The commissioner shall require the payment of seventy-two dollars ($72), in advance, as a fee for each certificate issued pursuant to this article.(Amended by Stats....
• Section 950.
  Whenever such a depositing insurer has paid, canceled, or reinsured all its unexpired policies outstanding in this State, and all its liabilities under such policies...
• Section 951.
  Pending such examination the securities requested to be withdrawn may continue subject to withdrawal and substitution as provided by section 943.(Enacted by Stats. 1935, Ch.
• Section 952.
  Whenever the laws of any other state or country, by reason of which Section 940 is brought into force, are repealed and abrogated, then any...
• Section 953.
  Whenever a domestic insurer deposits securities with an officer of this State, in order to enable it to do business in another State pursuant to...
• Section 954.
  The commissioner shall make an annual examination of the securities received by him from each insurer. If it appears at any time that the securities...
• Section 955.
  All appraisal fees collected by the commissioner under the provisions of this article shall be paid into the State treasury in trust and withdrawn as...
• Section 956.
  An account or accounts in one or more banks or savings and loan associations the accounts of which are insured by an agency or instrumentality...

Last modified: October 22, 2018