California Insurance Code ARTICLE 2 - Capital, Surplus and Contingency Reserve Requirements

• Section 12640.03.
  An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in...
• Section 12640.04.
  (a) In addition to the paid-in capital and surplus provided in Section 12640.03, each mortgage guaranty insurer shall establish a contingency reserve after establishment of the...
• Section 12640.05.
  (a) A mortgage guaranty insurer shall maintain a policyholders surplus in an amount not less than the amount required by this section. The policyholders surplus shall...
• Section 12640.06.
  A mortgage guaranty insurer shall not declare any dividends except from undivided profits remaining on hand over and above the aggregate of its paid-in capital,...

Last modified: October 22, 2018