California Insurance Code ARTICLE 2 - Title Insurers; Capital and Guarantee Fund Requirements
- Section 12350.
Every title insurer, before issuing any policy, shall deposit $100,000 with the Insurance Commissioner or other designated official of its home State as a “guarantee...
- Section 12351.
Any such deposit may be made either in lawful money of the United States or in any of the securities, other than collateral trust bonds...
- Section 12352.
If the deposit is made in this state, it shall first be approved by the commissioner who shall make a special deposit thereof in the...
- Section 12353.
Except as provided in section 12355, assets in such deposits in this State may, with the approval of the commissioner, be withdrawn or exchanged from...
- Section 12354.
As long as the depositing insurer continues solvent, it shall receive the interest and dividends on any assets in the deposit.(Enacted by Stats. 1935, Ch.
- Section 12355.
Except on withdrawal of the insurer from this State, or substitution pursuant to section 12353, assets in the deposit in this State shall be subject...
- Section 12356.
When any part of the assets to be deposited in this State consists of mortgage-secured notes or bonds, or loans upon real property secured by...
- Section 12357.
Unless the mortgage is covered by mortgage insurance, the value of the property covered by each such mortgage constituting all or part of such deposit...
- Section 12358.
The reasonable cost of examining such evidence of title and of making such appraisement, shall be paid by the title insurer making the deposit.(Amended by...
- Section 12359.
A title insurer shall not transact any insurance in this state unless it has paid-in capital represented by shares of stock of at least five...
- Section 12360.
An insurer which anywhere in the United States transacts any class of insurance other than title insurance is not eligible for the issuance of a...
Last modified: October 22, 2018