California Insurance Code

§ 1589

INS § 1589 Effective Jan 1, 2018Div. 1 · Part 2 · Ch. 4 · Art. 2

Statute text

Whenever a deposit is made with the commissioner, he or she shall issue to the depositing insurer a certificate under his or her official seal stating the items and amount of securities so deposited, and their value, to the best of his or her knowledge. In case of withdrawal and substitution, he or she shall issue a supplemental certificate of similar nature. The commissioner shall require the payment of seventy-two dollars ($72), in advance, as a fee for issuing the first certificate provided for in this article to each insurer, and twenty-five dollars ($25) for each additional certificate or each supplemental certificate evidencing any withdrawal, substitution, or other change in the securities deposited. There shall be no other or additional fee for attaching the commissioner’s seal to a securities deposit schedule in those instances. The fees prescribed herein are separate from and not cumulative upon those prescribed by Article 11 (commencing with Section 939), Chapter 1.

Legislative history

Amended by Stats. 2017, Ch. 534, Sec. 31. (AB 1699) Effective January 1, 2018.