California Insurance Code

§ 953

INS § 953Div. 1 · Part 2 · Ch. 1 · Art. 11

Statute text

Whenever a domestic insurer deposits securities with an officer of this State, in order to enable it to do business in another State pursuant to the laws of such other State, if such insurer thereafter ceases to do business in such other State and files conclusive evidence that all policies written in such other State have expired or been paid, canceled or reinsured, the securities shall on demand be returned to the depositing insurer.

Legislative history

Enacted by Stats. 1935, Ch. 145.