California Insurance Code ARTICLE 6 - Assessment of Insurers

• Section 1390.
  The provisions of this article shall apply only to exchanges writing liability, common carrier liability or workmen’s compensation insurance, except that any exchange may apply...
• Section 1391.
  Whenever an exchange subject to this article, is not possessed of admitted assets sufficient to discharge all liabilities and to maintain the required surplus, the...
• Section 1392.
  Except as provided by Sections 1397, 1398, 1400 and 1401, every subscriber of an exchange subject to this article shall be liable to pay, and...
• Section 1393.
  Each such subscriber’s share of the deficiency for which an assessment is made pursuant to this article, shall be determined by applying to the premium...
• Section 1394.
  Subscribers liable to assessment under this article shall pay the same without offsetting any claim for unearned premiums or losses payable to or for the...
• Section 1395.
  Assessments under this article shall be made upon the members liable to assessment therefor, in proportion to their several liabilities.(Enacted by Stats. 1935, Ch. 145.)
• Section 1396.
  Notice of all such proposed assessments shall be filed with the commissioner and the assessments shall not take effect until approved by him after such...
• Section 1397.
  Assessments under this article, whether levied by the attorney, or the commissioner in the liquidation of such an exchange or otherwise, shall be of no...
• Section 1398.
  The power of attorney of an exchange subject to this article may limit the contingent liability of the subscriber for assessment, but such contingent liability...
• Section 1399.
  Each subscriber to an exchange subject to this article may maintain with the exchange, in addition to the premium deposit provided in the policy, a...
• Section 1400.
  Each such subscriber maintaining a surplus deposit equal to, and in addition to, the amount of the total current annual premium deposit provided in his...
• Section 1401.
  If an exchange has a surplus of admitted assets over all liabilities in a sum equal to 11/2 times the minimum paid-in capital required of...
• Section 1401.5.
  (a) When the commissioner finds after a public hearing that a reciprocal or interinsurance exchange has at all times during any consecutive five-year period terminating on...
• Section 1402.
  All funds of such exchange and the proceeds of the contingent liability of its subscribers shall be available for the payment of any liability of...

Last modified: October 22, 2018