California Insurance Code

§ 1021

INS § 1021 Effective Jan 1, 1996Div. 1 · Part 2 · Ch. 1 · Art. 14

Statute text

(a)Upon the making of an order to liquidate the business of such person, the commissioner shall publish notice to its policyholders, creditors, shareholders, and all other persons interested in its assets. The order and the notice shall require claimants to file their claims with the commissioner, together with proper proofs thereof, within six months to one year, at the commissioner’s discretion, after the date of first publication of such notice, in the manner specified in this article.

(b)The time period specified in subdivision (a) shall not apply to the California Insurance Guarantee Association or the California Life and Health Insurance Guarantee Association provided it files with the commissioner a notice of possible claim within such six-month period and files actual claim or claims within such periods of time as may be permitted by order of court.

(c)Notwithstanding the provisions of subdivision (a), both of the following apply:

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Legislative history

Amended by Stats. 1995, Ch. 578, Sec. 3. Effective January 1, 1996.