California Insurance Code

§ 1371

INS § 1371 Effective Jan 1, 2019Div. 1 · Part 2 · Ch. 3 · Art. 5

Statute text

If an exchange does either liability or workers’ compensation insurance, it shall at all times maintain assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities of one hundred thousand dollars ($100,000). An exchange subject to the provisions of this section is also subject to the provisions of Sections 1370.2, 1370.4, and 1370.8.

Legislative history

Amended by Stats. 2018, Ch. 231, Sec. 7. (AB 2045) Effective January 1, 2019.