California Insurance Code ARTICLE 2 - Alien Insurers

• Section 1580.
  As used in this article, the term “alien insurer” means a foreign insurer organized under the laws of any jurisdiction other than a State of...
• Section 1581.
  Except as otherwise expressly provided for particular insurers, an alien insurer shall not transact any insurance in this State without first making the deposit required...
• Section 1582.
  The amount of such deposit shall be equal to the minimum amount of the paid-in capital required for admission of incorporated insurers issuing policies on...
• Section 1583.
  The deposit required by Section 1581(a) Shall be continuously maintained so long as any obligation arising out of any insurance transacted by such alien insurer in...
• Section 1585.
  If such deposit is not so maintained in this State, it shall be deemed to be in existence as required by this article only when...
• Section 1586.
  Such deposit, if maintained in this State, shall be for the benefit and security of all the policyholders and creditors of such alien insurer in...
• Section 1587.
  Securities deposited with the commissioner pursuant to this article shall be specially deposited by him in the State Treasury, in packages marked with the name...
• Section 1588.
  As long as the depositing insurer is solvent and the deposited securities are sufficient under this article, it may collect the income on the deposited...
• Section 1589.
  Whenever a deposit is made with the commissioner, he or she shall issue to the depositing insurer a certificate under his or her official seal...
• Section 1590.
  The commissioner shall require the payment of forty-four dollars ($44), in advance, as a fee for filing a certificate of deposit of securities under this...
• Section 1591.
  In addition to complying with all other applicable requirements of this code, every admitted alien insurer shall on or before the first day of March...
• Section 1592.
  The statement required by Section 1591 shall be verified in the manner prescribed in Sections 903 and 903.5 and there shall be filed therewith the...
• Section 1593.
  The excess of the sum of those items in such statement, which are described in subdivision (a), (b), (c) and (d) of Section 1591, over...
• Section 1594.
  Whenever it appears to the commissioner that the trusteed surplus in the United States of an alien insurer is less than an amount equal to...
• Section 1595.
  Whenever an admitted alien insurer is required or permitted to deposit assets with a trustee for the benefit and security of its policyholders, or of...
• Section 1596.
  To satisfy the purposes of this article, any alien insurer admitted or seeking to be admitted is hereby authorized to make and execute a deed...
• Section 1596.5.
  Trusteed assets may be held by a trustee in the name of a nominee of the trustee, when permitted by and in accordance with the...
• Section 1597.
  In respect of the appointment or substitution of a trustee in another state in which an admitted alien insurer is authorized to transact insurance, in...
• Section 1598.
  The commissioner may from time to time examine the trusteed assets of any alien admitted insurer pursuant to Section 736, and may from time to...
• Section 1599.
  The commissioner shall require the payment of twenty-nine dollars ($29), in advance, as a fee for filing each certificate of a trustee required to be...

Last modified: October 22, 2018