California Insurance Code ARTICLE 6 - Nonassessable Policies

• Section 4060.
  A domestic mutual insurer while maintaining unimpaired surplus funds not less in amount than one and one-half times the minimum paid-in capital stock required of...
• Section 4061.
  The commissioner shall not authorize a domestic insurer to extinguish the contingent liability of any of its members or in any of its policies to...
• Section 4062.
  A foreign or alien mutual insurer may issue nonassessable policies to its members in this State pursuant to its charter and the laws of its...
• Section 4063.
  The commissioner shall revoke the certificate of a domestic mutual insurer to issue policies without contingent liability if(a) At any time the insurer’s assets are less...
• Section 4064.
  During the absence of such certificate the insurer shall not issue any policy without providing therein for the contingent liability of the policyholder, nor renew...

Last modified: October 22, 2018