California Insurance Code

§ 1035.5

INS § 1035.5 Effective Jan 1, 1994Div. 1 · Part 2 · Ch. 1 · Art. 14

Statute text

Notwithstanding the provisions of Article 14 (commencing with Section 1010), with regard only to those insurers subject to this article:

(a)Within 120 days of the issuance of an order directing the winding up and liquidation of the business of an insolvent insurer under Section 1016, the commissioner shall make application to the court for approval of a proposal to disburse the insurer’s assets, from time to time as such assets become available, to the California Insurance Guarantee Association, or the California Life and Health Insurance Guarantee Association, and to any entity or person performing a similar function in another state.

(b)The proposal shall at least include the following provisions for:

…

Legislative history

Amended by Stats. 1993, Ch. 974, Sec. 1.4. Effective January 1, 1994.