California Insurance Code ARTICLE 5 - Finances

• Section 1370.
  Every exchange shall maintain its required assets in any one, or more, or all of the following forms:(a) In cash or deposits in solvent banks.(b) Invested in...
• Section 1370.2.
  Except as in this article (commencing with Section 1370) otherwise provides, every exchange subject to this chapter (commencing with Section 1280) shall on and after...
• Section 1370.4.
  An exchange admitted prior to October 1, 1961, shall be exempt from the provisions of Section 1370.2 until it replaces its attorney in fact, except...
• Section 1370.8.
  Any exchange exempted at any time from the provisions of Section 1370. 2 shall irrespective of such exemption be subject to the provisions of this...
• Section 1371.
  If an exchange does either liability or workmen’s compensation insurance, it shall at all times maintain assets in a sum sufficient to discharge all liabilities...
• Section 1372.
  Every other exchange shall maintain at all times assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities...
• Section 1373.1.
  No certificate of authority, other than a renewal certificate of authority, shall be issued to the attorney within three years from and after the time...
• Section 1373.2.
  (a) Except as provided in subsection (b) hereof, an exchange, the attorney for which holds a certificate of authority, which has been in business as an...
• Section 1374.
  In estimating the financial condition of any exchange the commissioner shall observe the following rules:(a) He or she shall charge as liabilities the same reserves as...
• Section 1374.1.
  (a) “Surplus deposits of subscribers,” as used in this chapter, means amounts, over and above any premium charges, which are contributed by subscribers and which are...
• Section 1375.
  Where the subscribers are grouped by industries or otherwise under any ruling or agreement which exempts the funds of one group from liability in whole...

Last modified: October 22, 2018