California

Insurance Code

4,514 sections, each with the official text and a plain-English explanation of what it means for you.

• § 11701 — The commissioner may revoke the certificate of authority to transact workers’ compensation insurance or to reinsure the injury, disablement, or death portions of policies of workers’ compensation unde
• § 11702 — The provisions of this article shall not apply to workers’ compensation insurance covering those persons defined as employees by subdivision (d) of Section 3351 of the Labor Code.
• § 11703 — An insurer desiring to write workers’ compensation insurance shall maintain or provide occupational safety and health loss control consultation services pursuant to Section 6354.
• § 1171 — Such insurers may invest in obligations of the United States or obligations for which the faith and credit of the United States are pledged for payment of principal and interest.
• § 1171.5 — Such insurers may invest in obligations of the United States Postal Service.
• § 1172 — Such insurers may invest in obligations of the Dominion of Canada, or the Commonwealth of Puerto Rico, or of any province of the Dominion of Canada, or of any political subdivision of the Commonwealth
• § 1173 — Such insurers may invest in obligations issued under authority of law by any county, municipality, or school district in this State or in any other state, or in any province of the Dominion of Canada
• § 11730 — The following definitions govern the construction and meaning of the terms used in this article: (a) “Classification system” or “classification” means a plan, system, or arrangement for recognizing di
• § 11731 — This article applies to workers’ compensation insurance and employers’ liability insurance written in connection therewith.
• § 11732 — Rates shall be adequate to cover an insurer’s losses and expenses.
• § 11732.5 — Rates shall not be unfairly discriminatory.
• § 11733 — In determining whether rates comply with Section 11732, the following criteria shall apply: (a) Due consideration may be given to past and prospective loss and expenses experience within this state, t
• § 11734 — (a) Every workers’ compensation insurer shall adhere to a uniform experience rating plan filed with the commissioner by a rating organization designated by the commissioner and subject to his or her d
• § 11735 — (a) Every insurer shall file with the commissioner all rates and supplementary rate information that are to be used in this state.
• § 11736 — An experience rating plan shall contain reasonable eligibility standards, provide adequate incentives for loss prevention, and shall provide for sufficient premium differentials so as to encourage saf
• § 11736.5 — (a) The commissioner shall establish, by regulation, those forms of collateral or security that an insurer may designate to secure the deductible amount of any policy of workers’ compensation insuranc
• § 11737 — (a) The commissioner may disapprove a rate if the insurer fails to comply with the filing requirements under Section 11735.
• § 11738 — A classification shall take no account of any physical impairment of employees or the extent to which employees may have persons dependent upon them for support.
• § 11739 — (a) An insurer shall not use any plan for the payment of dividends to policyholders by reason of a participating provision in a workers’ compensation insurance policy which is unfairly discriminatory.
• § 1174 — Such insurers may invest in obligations of this State or those for which the faith and credit of this State are pledged for the payment of principal and interest, and in obligations of any other State
• § 11740 — Rates and supplementary rate information filed for use in this state pursuant to this article and Article 3 (commencing with Section 11750), as added and amended by Chapter 228 of the Statutes of 1993
• § 11742 — (a) The Legislature finds and declares that the insolvencies of more than a dozen workers’ compensation insurance carriers have seriously constricted the market and led to a dangerous increase in busi
• § 1175 — Such insurers may invest in bonds of any permanent road division in this state, or any district organized under the laws of this state, when such bonds are legal investments for savings banks of this
• § 1175.5 — Such insurers may invest in bonds of any county water district operating under Division 12 of the Water Code.
• § 11750 — (a) The purpose of this article is to promote the public welfare by regulating concert of action between insurers in collecting and tabulating rating information and other data that may be helpful in
• § 11750.1 — As used in this article, unless a different meaning is manifest, the term: (a) “Insurer” means every insurer authorized to transact workers’ compensation insurance and employer’s liability insurance i
• § 11750.2 — The provisions of this article shall apply to all workers’ compensation insurance and employer’s liability insurance incidental thereto and written in connection therewith in this state, except reinsu
• § 11750.3 — A rating organization may be organized pursuant to this article and maintained in this state for the following purposes: (a) To provide reliable statistics and rating information with respect to worke
• § 11751 — On and after January 1, 1952, a rating organization shall not conduct its operations in this state without first having filed with the commissioner a written application for and securing a license to
• § 11751.1 — To obtain and retain a license, a rating organization shall provide satisfactory evidence to the commissioner that it shall do all of the following: (a) Permit any insurer to become a member at a reas
• § 11751.2 — The commissioner shall examine each application for license to act as a rating organization and the documents filed therewith and may make any further investigation of the applicant, its affairs and i
• § 11751.25 — Notwithstanding Section 11751, each rating organization possessing a license of indefinite term pursuant to this article shall owe and pay to the commissioner an annual fee of one hundred fifty dollar
• § 11751.3 — (a) Subject to the approval of the commissioner, a rating organization licensed under this article may adopt any reasonable constitution, articles of incorporation, or agreement of association, and ma
• § 11751.35 — (a) Four members of the public, two representing organized labor and two representing insured employers, appointed pursuant to subdivision (b) of Section 11751.
• § 11751.4 — From and after the taking effect of this act, it shall be the duty of every insurer to be a member of a rating organization.
• § 11751.5 — The commissioner, after notice and hearing, may promulgate reasonable rules and statistical plans, which may be modified from time to time and which shall be used thereafter in the recording and repor
• § 11751.55 — If an insurer, the State Compensation Insurance Fund, a rating organization, or an advisory organization requests an official action by the commissioner under Chapters 2 (commencing with Section 11630
• § 11751.7 — (a) The rating organization designated the statistical agent pursuant to Section 11751.
• § 11751.8 — An insurer shall report to its rating organization as corrections or revisions of losses, pursuant to the unit statistical plan and uniform experience rating plans approved by the commissioner, if any
• § 11751.82 — (a) An insurer under a wrap-up insurance policy shall report workers’ compensation losses and payroll information for each contractor and subcontractor to its rating organization on a timely basis and
• § 11751.9 — Whenever a claim or claims used in an experience rating are closed and reported pursuant to the unit statistical plan approved by the commissioner and are valued, in the aggregate, at an amount that i
• § 11752 — The commissioner may, as often as reasonable and necessary, make or cause to be made an examination of each rating or advisory organization to ascertain whether such organizations comply with the lega
• § 11752.1 — The officers, managers, agents and employees of any such organization may be examined by the commissioner at any time under oath and shall exhibit all books, records, accounts, documents or agreements
• § 11752.2 — The reasonable cost of any examination authorized by this article of any rating or advisory organization shall be paid by the organization examined.
• § 11752.5 — (a) Subject to subdivision (b), a licensed rating organization shall make available any policy information contained in its records to the following: (1) The Department of Industrial Relations.
• § 11752.6 — (a) A licensed rating organization shall make available, in writing, to an employer insured under a workers’ compensation policy, all policyholder information contained in its records upon request of
• § 11752.7 — (a) A licensed rating organization may make available experience rating information contained in its records to any insurer admitted to transact workers’ compensation insurance in this state or to any
• § 11752.75 — (a) (1) Notwithstanding any other provision of law, a licensed rating organization shall, pursuant to regulations adopted by the commissioner after notice and hearing, establish and maintain an Intern
• § 11752.8 — (a) For all policies of insurance issued, or renewed for the first time on or after January 1, 1995, the insurer shall provide a notice, approved by the commissioner, to the policyholder, explaining i
• § 11752.9 — Notwithstanding subdivision (d) of Section 11750.
• § 11753 — No advisory organization shall conduct its operations in this State unless and until it has filed with the commissioner: a.
• § 11753.1 — (a) Any person aggrieved by any decision, action, or omission to act of a rating organization may request that the rating organization reconsider the decision, action, or omission.
• § 11753.2 — (a) If a change in a classification assignment on a workers’ compensation insurance policy is due to an erroneous classification and results in a decreased premium, the classification change shall bec
• § 11753.3 — Notwithstanding Section 1851.
• § 11754 — If the commissioner has good cause to believe that a rating or advisory organization or an insurer does not comply with the requirements of this article applicable to it, he shall, unless he has good
• § 11754.1 — If the commissioner has good cause to believe such noncompliance to be wilful, or if within the period prescribed by the commissioner in the notice required by Section 11754 the organization or insure
• § 11754.2 — If, after a hearing pursuant to Section 11754.
• § 11754.3 — In addition to other penalties provided in this code the commissioner may suspend or revoke the license of any rating organization or insurer which fails to comply within the time limited by such orde
• § 11754.4 — Except as otherwise provided in this article, all proceedings in connection with the denial, suspension or revocation of a license of a rating organization or insurer under this article shall be condu
• § 11754.5 — Any finding, determination, rule, ruling, or order made by the commissioner under this article or Article 2 (commencing with Section 11730) shall be subject to review by the courts of the state pursua
• § 11755 — No person, insurer, rating or advisory organization shall willfully withhold information from, or knowingly give false or misleading information to, the commissioner or to any rating organization, whi
• § 11756 — (a) Any person, insurer, or organization, who fails to comply with a final order of the commissioner under this article shall be liable to the state in an amount not exceeding fifty dollars ($50), but
• § 11757 — Nothing in this article shall be construed to prohibit or regulate the payment of dividends, savings or unabsorbed premium deposits allowed or returned by insurers to their policyholders, members or s
• § 11758 — No act done, action taken or agreement made pursuant to the authority conferred by this article shall constitute a violation of or grounds for prosecution or civil proceedings under any other law of t
• § 11758.1 — The provisions of this article shall not apply to the workers’ compensation insurance covering those persons defined as employees by subdivision (d) of Section 3351 of the Labor Code.
• § 11759 — The Legislature hereby finds and declares as follows: The Legislature pursuant to its plenary power over workers’ compensation granted by Section 4 of Article XIV of the California Constitution has au
• § 11759.1 — A rating organization shall, no later than June 1 of each year, notify the Governor and the Legislature that a report containing an analysis of all losses and expenses for the prior year by all insure
• § 11759.2 — (a) A licensed rating organization designated as the Insurance Commissioner’s statistical agent shall prepare a report to be submitted to the Insurance Commissioner by April 1, 2003, on the potential
• § 1176.5 — Such insurers may make, invest in or purchase loans which are guaranteed by the United States or any agency thereof pursuant to the provisions of the “Servicemen’s Readjustment Act of 1944” or any act
• § 1176.6 — None of the provisions of the Insurance Code limiting or restricting loans by insurers or prescribing the security therefor shall apply to any loans which are fully guaranteed by the United States or
• § 11760 — (a) It is unlawful to make or cause to be made any knowingly false or fraudulent statement, whether made orally or in writing, of any fact material to the determination of the premium, rate, or cost o
• § 11760.1 — (a) If an employer fails to provide for access by the insurer or its authorized representative to its records, to enable the insurer to perform an audit to determine the remuneration earned by the emp
• § 11761 — (a) The commissioner shall adopt regulations setting forth the minimum standards of training, experience, and skill that workers’ compensation claims adjusters must possess to perform their duties wit
• § 1177 — Such insurers may invest in notes or bonds secured by mortgage guaranteed as to payment by a policy of mortgage insurance, and mortgage participation certificates issued by a mortgage insurer in accor
• § 11770 — (a) The State Compensation Insurance Fund is continued in existence, to be administered by its board of directors for the purpose of transacting workers’ compensation insurance, and insurance against
• § 11771 — The State shall not be liable beyond the assets of the State Compensation Insurance Fund for any obligations in connection therewith.
• § 11771.5 — Any advertising of the State Compensation Insurance Fund shall include the following disclaimer: “The State Compensation Insurance Fund is not a branch of the State of California.
• § 11772 — There shall not be any liability in a private capacity on the part of the board of directors or any member thereof, or any officer or employee of the fund for or on account of any act performed or obl
• § 11773 — The fund shall be organized as a public enterprise fund.
• § 11774 — The assets of the fund shall be applicable to the payment of losses sustained on account of insurance and to the payment of the salaries and other expenses charged against it in accordance with the pr
• § 11775 — The fund shall, after a reasonable time during which it may establish a business, be fairly competitive with other insurers, and it is the intent of the Legislature that the fund shall ultimately beco
• § 11776 — The actual loss experience and expense of the fund shall be ascertained on or about the first of January in each year for the year preceding.
• § 11777 — Such cash dividend or credit is to be in an amount which the board of directors in its discretion considers to be the employer’s proportion of divisible surplus.
• § 11778 — The fund may transact workers’ compensation insurance required or authorized by law of this state to the same extent as any other insurer.
• § 11779 — The fund may insure California employers against their liability for compensation or damages for injury or death under the United States Longshoremen’s and Harbor Workers’ Compensation Act, or other f
• § 1178 — Such insurers may invest in collateral trust bonds or notes, secured by any of the following: (a) A deposit of obligations authorized for investment by this article or Articles 4, 5, or 6 of this chap
• § 11780 — The fund may also insure an employer against his or her liability for damages under the laws of the State of California arising out of bodily injury to or death of the employer’s employees occurring w
• § 11780.5 — (a) The fund may also insure a California employer against his or her liability for workers’ compensation benefits, under the law of any other state, for California employees temporarily working outsi
• § 11781 — The board of directors is hereby vested with full power, authority and jurisdiction over the State Compensation Insurance Fund.
• § 11781.5 — The State Compensation Insurance Fund may acquire and own real property for a branch office in the City of Los Angeles when so determined by the board of directors, and may, if necessary, construct su
• § 11782 — All business and affairs of the fund shall be conducted in the name of the State Compensation Insurance Fund, and in that name, without any other name or title, the board of directors may perform the
• § 11783 — The State Compensation Insurance Fund may: (a) Sue and be sued in all actions arising out of any act or omission in connection with its business or affairs.
• § 11784 — In conducting the business and affairs of the fund, the president of the fund may do any of the following: (a) Enter into contracts of workers’ compensation insurance.
• § 11785 — (a) The board of directors shall appoint a president, a chief financial officer, a chief operating officer, a chief information technology officer, a chief investment officer, a chief risk officer, a
• § 11785.5 — (a) Notwithstanding any other provision of law to the contrary, the members of the Board of Directors of the State Compensation Insurance Fund and officers of the fund appointed by the board of direct
• § 11786 — Before entering on the duties of his or her office, the president shall qualify by giving an official bond approved by the board of directors in the sum of fifty thousand dollars ($50,000) and by taki
• § 11787 — The board of directors may delegate to the president of the fund, under those rules and regulations and subject to those conditions as it from time to time prescribes, any power, function, or duty con
• § 11788 — The State Treasurer shall be custodian of all securities belonging to the State Compensation Insurance Fund, except as otherwise provided in this chapter.
• § 1179 — Such insurers may invest in farm loan bonds, consolidated farm loan bonds, collateral trust debentures, consolidated debentures, or other obligations issued under the Federal Farm Loan Act, approved J
• § 11790 — All securities belonging to the fund shall be delivered to the State Treasurer and held by him or her until otherwise disposed of as provided in this chapter.
• § 11793 — Expenditures made by the State Compensation Insurance Fund are exempted from the provisions of Part 3 (commencing with Section 900) of Division 3.
• § 11797 — (a) The board of directors shall cause all moneys in the State Compensation Insurance Fund that are in excess of current requirements to be invested and reinvested, from time to time, in the same mann
• § 118 — Aircraft insurance includes insurance of aircraft owners, users, dealers or others having insurable interests therein, against loss through hazards incident to ownership, maintenance, operation and us
• § 1180 — Such insurers may invest in bonds issued under the “Home Owners’ Loan Act of 1933”; bonds, debentures and notes issued by any federal home loan bank, or consolidated federal home loan bank notes, bond
• § 11800 — All moneys in the State Compensation Insurance Fund, in excess of current requirements and not otherwise invested, may be deposited by the board of directors from time to time in financial institution
• § 11800.1 — The board of directors may, with the approval of the State Treasurer, authorize the establishment of an account or fund in the State Treasury in the name of the State Compensation Insurance Fund, but
• § 11800.2 — The State Controller shall keep a special ledger account pertaining to the State Compensation Insurance Fund.
• § 11801 — The assets, premiums, reserves, investment income, and any and all property of whatsoever kind derived or acquired by the fund from its transaction of its workers’ compensation insurance business shal
• § 11802 — All premiums, reserves, investment income, and all property of whatsoever kind derived or acquired by the fund from its transaction of insurance pursuant to the United States Longshoremen’s and Harbor
• § 11803 — All claims, costs of doing business, liabilities, expenses, and obligations arising out of or related to the fund’s transaction of insurance pursuant to the United States Longshoremen’s and Harbor Wor
• § 11804 — Joint or shared use of office building space, whether owned, leased or rented, and the joint use of all furniture, automobiles, office equipment, supplies and services shall be charged to each class o
• § 11805 — The State Compensation Insurance Fund shall report annually to the Legislature as soon after the close of the calendar year as is feasible, with respect to its experience handling United States longsh
• § 1181 — Such insurers may also invest in registered warrants of this State, issued pursuant to law.
• § 1182 — Domestic incorporated insurers may invest in an account or accounts in one or more banks, savings and loan associations, or credit unions to the extent the account or accounts are insured by an agency
• § 11820 — Subject to the provisions of Article 2 (commencing with Section 11730) of Chapter 3, the board of directors shall establish the rates to be charged by the State Compensation Insurance Fund for insuran
• § 11821 — Within each class of business insured such rates shall be fixed, so far as practicable, in accordance with the following elements: (a) Bodily risk or safety, or other hazard of the plant, premises or
• § 11822 — The rates fixed by the board of directors shall be that percentage of the payroll of any employer which, in the long run and on the average, will produce a sufficient sum, when invested in a way as to
• § 11840 — The insurance contracts or policies of the State Compensation Insurance Fund may be either limited or unlimited.
• § 11841 — Nothing in this chapter shall prevent: (a) Any applicant for insurance from being covered temporarily until the application is finally acted upon.
• § 11843 — The State Compensation Insurance Fund may issue policies including, with their employees, employers who perform labor incidental to their occupations, and including also members of the families of suc
• § 11844 — Such policies covering employers shall insure to such employers and working members of their families the same compensations provided for their employees, and at the same rates.
• § 11845 — The estimations of the wage values, respectively, of such insured employers and members of their families shall be reasonable and shall be separately stated in and added to the valuation of the pay ro
• § 11846 — The policies may likewise be sold to self-employing persons and to casual employees.
• § 1185 — (a) Every domestic incorporated insurer shall file a report with the commissioner disclosing material acquisitions and dispositions of assets or material nonrenewals, cancellations, or revisions of ce
• § 1186 — (a) No acquisitions or dispositions of assets shall be reported pursuant to Section 1185 if the acquisitions or dispositions are not material.
• § 11860 — Each quarter the president of the State Compensation Insurance Fund shall make a report to the Governor of the business done by the State Compensation Insurance Fund during the previous quarter and a
• § 1187 — (a) No nonrenewals, cancellations, or revisions of ceded reinsurance agreements shall be reported pursuant to Section 1185 if the nonrenewals, cancellations, or revisions are not material.
• § 11870 — The state, any agency, department, division, commission, board, bureau, officer or other authority thereof, and each county, city and county, city, school district, irrigation district, any other dist
• § 11871 — The State Compensation Insurance Fund may enter into a master agreement with the Department of Human Resources to render services in the adjustment and disposition of claims for workers’ compensation
• § 11872 — The fund may annually enter into agreements with state agencies for service to be rendered to the fund.
• § 11873 — (a) Except as provided by subdivision (b), the fund shall not be subject to the provisions of the Government Code made applicable to state agencies generally or collectively, unless the section specif
• § 11874 — On the effective date of this act the Controller shall draw his or her warrant in favor of the State Compensation Insurance Fund for the total amount of the funds in the custody of the Treasurer belon
• § 11880 — (a) It is unlawful to make or cause to be made any knowingly false or fraudulent statement, whether made orally or in writing, of any fact material to the determination of the premium, rate, or cost o
• § 11881 — Whenever in Chapter 4, Part 3, Division 2 of the Insurance Code the term “State Industrial Accident Commission” or “Industrial Accident Commission” or “commission” or “director” or similar designation
• § 11885 — (a) The Director of Finance is hereby authorized to act as agent for the state and, in that capacity, to sell a portion of, or otherwise obtain value for, the State Compensation Insurance Fund’s asset
• § 11885.3 — In order to accomplish the purpose of this article, the State Compensation Insurance Fund and its board of directors shall participate fully in good faith with the Director of Finance, and the Directo
• § 11885.5 — Notwithstanding any other law, the approval of neither the Attorney General, nor the Insurance Commissioner, nor the Director of General Services is required for execution and implementation of the sa
• § 11885.7 — (a) The Director of Finance shall deposit all proceeds of any sale of, or any funds achieved through any other disposition of, the State Compensation Insurance Fund’s workers’ compensation insurance a
• § 11885.9 — (a) Notwithstanding any other law, the Director of Finance is authorized to enter into agreements with firms or individuals to act as advisers to the state in the transactions contemplated by this art
• § 11886 — (a) The Director of Finance, in consultation with the State Treasurer, shall select firms or individuals to provide advisory services based on demonstrated competence and professional qualifications n
• § 11886.2 — (a) The Director of Finance shall notify the Joint Legislative Budget Committee in writing upon his or her determination that neither the sale nor any other transaction authorized by this article is a
• § 11890 — As used in this chapter: (a) “Long-term health care facility” has the same meaning as that term is defined in Section 1418 of the Health and Safety Code.
• § 11891 — (a) If the commissioner finds after a public hearing that liability insurance for long-term health care facilities, residential care facilities for the elderly, or physicians who provide or oversee th
• § 11892 — (a) The commissioner may order the creation of an unincorporated, not-for-profit, temporary joint underwriting association for liability insurance, constituting a legal entity separate and distinct fr
• § 11895 — (a) An insurer may consider the installation of vehicle barriers as a safety measure and may provide or offer a discount on the property owner’s insurance covering damage or loss to the covered commer
• § 119 — Mortgage guaranty insurance includes insurance against financial loss by reason of the nonpayment of principal, interest and other sums agreed to be paid under the terms of any note or bond or other e
• § 119.5 — Insolvency insurance includes insurance against loss arising from the failure of an insolvent insurer to discharge its obligations under its insurance policies.
• § 119.6 — Legal insurance includes the assumption of a contractual obligation to reimburse the insured against all or a portion of his fees, costs, and expenses related to or arising out of services performed b
• § 1190 — Any domestic incorporated insurer, which maintains in cash on hand or on deposit in a national or state bank, or in securities specified in Article 3 (commencing with Section 1170), an amount equal to
• § 1191 — Excess funds investments may be made in the stock of any corporation organized and carrying on business under the laws of this or any other state, or of the United States, or of the District of Columb
• § 1191.1 — Excess fund investments may be made in the purchase and sale of exchange traded call options on common stock pursuant to this section.
• § 1191.5 — (a) Excess fund investments may be made by a domestic life insurer having admitted assets aggregating in value not less than one hundred million dollars ($100,000,000) in the purchase and sale of call
• § 1192 — Excess funds investments may be made in: (a) Interest-bearing obligations issued by a nonaffiliate institution, as defined in paragraph (5) of subdivision (f) of Section 1196.
• § 1192.1 — Excess funds investments may be made in bonds, notes or other obligations issued, assumed or guaranteed by the International Bank for Reconstruction and Development, or the Inter-American Development
• § 1192.10 — (a) Excess funds investments may be made in securities evidencing an undivided interest in, the right to receive payments from, or payable primarily from distributions on a pool of financial assets he
• § 1192.2 — An insurer may lend on the security of a first lien on an unencumbered leasehold on real property if: (a) The real property subject to the leasehold is primarily improved by a single family residence,
• § 1192.3 — Excess fund investments may be made by a life insurer having admitted assets aggregating in value not less than two hundred million dollars ($200,000,000) in the following: (a) Equipment obligations,
• § 1192.4 — No domestic insurer shall have more than 10 percent of its capital and surplus invested in stock of corporations organized under the laws of the Dominion of Canada or of any province of the Dominion o
• § 1192.5 — Excess funds investments may be made in all deposits and debt obligations of banks or savings and loan associations whose accounts are insured by an agency or instrumentality of the federal government
• § 1192.6 — (a) An insurer, except an insurer authorized to transact mortgage guaranty insurance as defined in Section 119, may invest in a mortgage, mortgage-backed bond, or a mortgage participation, pass-throug
• § 1192.7 — (a) A domestic insurer having admitted assets aggregating in value not less than one hundred million dollars ($100,000,000) may make excess funds investments in participation certificates (1) which re
• § 1192.8 — (a) A domestic life insurer having admitted assets aggregating in value not less than one hundred million dollars ($100,000,000) may make excess fund investments pursuant to this section in interest-b
• § 1192.9 — Notwithstanding Section 1100, a domestic insurer may make excess funds investments in shares of an investment company, as defined in the Federal Investment Company Act of 1940, if the requirements of
• § 1192.95 — (a) Notwithstanding Section 1100, an insurer may make excess funds investments in investment pools and cash management pools established pursuant to this section.
• § 1193 — Excess funds investments may be made in bonds of any permanent road division, or any district of any state when such bonds are legal investments for savings banks of this State, or have been certified
• § 1194 — Excess funds investments may be made in bonds issued by any county, municipality, or school district in this State to represent assessments for local improvements authorized by law.
• § 1194.1 — Excess funds investments may be made in bonds issued pursuant to the Improvement Bond Act of 1915.
• § 1194.5 — Excess funds investments may be made in any debt obligation issued by the United States, a federal agency or entity authorized to issue debt obligations by federal statute; the Commonwealth of Puerto
• § 1194.6 — (a) Excess funds investments may be made by an insurer in bonds, notes, or other evidences of indebtedness payable in United States dollars, and issued by a corporation incorporated under the laws of
• § 1194.7 — Excess funds investments may be made in the stock of a Federal home loan bank.
• § 1194.8 — (a) Excess fund investments may be made by a domestic insurer in real estate and leases thereof and in making improvements thereon for business or residential purposes as an investment for the product
• § 1194.81 — Domestic incorporated insurers may invest in notes or bonds secured by a mortgage or other first lien upon unencumbered real property meeting the criteria of subdivision (e), if the secured obligation
• § 1194.82 — (a) An insurer may invest in notes or bonds secured by second mortgages or other second liens, including all inclusive or wraparound mortgages or liens, upon real property encumbered only by a first m
• § 1194.85 — In any case in which a domestic insurer has requested the approval of the commissioner to make the investments specified in subdivision (a) or (c) of Section 1194.
• § 1194.86 — Every admitted incorporated insurer may purchase, hold, or convey real estate only for the following purposes and in the following manner: (a) The building in which it has its principal office and the
• § 1194.87 — If, after a hearing, the commissioner is satisfied that an insurer is carrying upon its books any parcel or parcels of real estate at values exceeding the sound market value thereof, he or she may ord
• § 1194.88 — Every admitted incorporated insurer may, for the protection or enhancement of the value of real property acquired under the provisions of Section 1194.
• § 1194.9 — If the commissioner shall decide, after due notice and hearing that the interest of any company having real estate acquired pursuant to the provisions of Section 1194.
• § 1194.95 — Excess funds investments may be made in an electronic computer or data processing machine or system to be used in connection with the business of the insurer; provided, however, that this machine or s
• § 1195 — This article does not authorize investments in any obligation unless the obligation is interest or income-bearing or dividend-paying.
• § 1196 — Excess funds investments shall not be made in any stock or obligation unless: (a) The stock or obligation qualifies as a sound investment.
• § 1196.1 — (a) No domestic insurer shall acquire, directly or indirectly, any medium grade or lower grade obligation of any institution if, after giving effect to any such acquisition, the aggregate amount of al
• § 1197 — Excess funds investments shall not be made in a loan or any other obligation to any one borrower or obligor, including all affiliates which shall be treated as one borrower or obligor, in an amount ex
• § 1198 — Excess funds investments shall not be made in purchases of or loans upon shares of the capital stock of any one corporation in an amount exceeding 10 percent of the excess of the admitted assets of th
• § 1199 — No domestic incorporated fire, life or marine insurer shall make excess funds investments in purchases of, or loans upon, more than 30 percent of the total in par value or number of outstanding shares
• § 12 — The masculine gender includes the feminine and neuter.
• § 12.2 — “Spouse” includes “registered domestic partner,” as required by Section 297.
• § 120 — Miscellaneous insurance includes insurance against loss from damage done, directly or indirectly by lightning, windstorm, tornado, earthquake or insurance under an open policy indemnifying the produce
• § 1200 — An excess funds investment shall not be made unless authorized or approved by the directors of the investor or by a committee thereof charged with the duty of supervising or making such investment.
• § 1201 — The entry of approval shall show: (a) The fact of making such investment.
• § 1202 — The commissioner may, in his discretion and after hearing, by written order require the disposal of any investments made in violation of the provisions of this article, pending which disposal pursuant
• § 12050 — An incorporated insurer issuing surety policies on the reserve basis shall be governed by the paid-in capital and surplus requirements of Sections 700.
• § 12051 — During the first three years following its admission, the insurer’s assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is appr
• § 12052 — After such three-year period, investments of such insurers are subject only to the provisions of this code regulating generally the investments of other incorporated insurers issuing policies on a res
• § 12055 — An insurer admitted in the State to transact credit insurance may also acquire and dispose of debts so insured and collect any debts owed to such insurer or to any person so insured by it.
• § 12070 — The commissioner shall publish and maintain a complete list of all admitted surety insurers on the department’s public Web site.
• § 12072 — (a) Whenever the insurer’s certificate of authority is surrendered, revoked, canceled, annulled, or suspended or whenever any such insurer, after such abrogation of its certificate again is admitted,
• § 12090 — (a) An admitted surety insurer shall not become surety on any one undertaking, or accept reinsurance on such undertaking, when its liability thereon, in excess of the amount reinsured by it in an admi
• § 12091 — Whenever a surety insurer fails to maintain such a financial condition that assets allowed under subdivision (a) are equal in value to the aggregate of the charges prescribed under subdivision (b), th
• § 12092 — Whenever such an insurer fails to maintain the financial condition required by section 12091, the commissioner shall require the deficiency to be made up in sixty days.