(a) Notwithstanding the provisions of Section 5506, the commission shall have the authority to accept policies of insurance written by nonadmitted insurers subject to Section 1763 of the Insurance Code of this state, provided that the policies of insurance shall meet the rules and regulations promulgated therefor by the commission.
(b) This section shall become inoperative on July 1, 2018, and, as of January 1, 2019, is repealed.
(Amended by Stats. 2017, Ch. 421, Sec. 34. (SB 19) Effective January 1, 2018. Inoperative July 1, 2018. Repealed as of January 1, 2019, by its own provisions. See later operative version added by Sec. 35 of Stats. 2017, Ch. 421.)
Last modified: October 25, 2018