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California Insurance Code

§ 940

INS § 940Div. 1 · Part 2 · Ch. 1 · Art. 11

Statute text

View on leginfo.ca.gov
The commissioner shall accept and hold securities in trust for the policyholders or policyholders and creditors of an insurer and for their benefit, whenever (a) the law of another state or of a foreign country requires such a deposit with an officer of this state as a prerequisite to transacting insurance business in that state or country, or (b) the law of this state requires such a deposit with an officer of this state.

Legislative history

Amended by Stats. 1965, Ch. 165.

Source: California Insurance Code § 940 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.