California

Insurance Code

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

• § 12093 — Whenever a surety insurer gives notice of cancellation of the coverage of an employee under a blanket fidelity bond, upon the request of the employee, the surety insurer, within 10 days of the request
• § 12095 — No insurer admitted in this state to issue surety insurance shall fail or refuse to accept an application for a contractor’s license or performance bond, or to issue such a bond to an applicant theref
• § 12096 — (a) Any applicant for a contractor’s license or performance bond who believes that the admitted surety insurer, regularly issuing such bonds, to whom he has applied did not comply with Section 12095,
• § 12097 — Whoever denies a contractor’s license or performance bond solely on the grounds specified in this article is liable for each and every such offense for the actual damages, and two hundred fifty dollar
• § 121 — Except as otherwise stated, the enumeration in this chapter of the kinds of insurance in a particular class does not limit any such kind to any one of such particular classes, inasmuch as the classifi
• § 1210 — (a) A domestic incorporated insurer, after investing an amount equal to its required minimum paid-in capital in securities specified in Article 3 (commencing with Section 1170), may make investments a
• § 12100 — As used in this article: (a) (1) “Financial guaranty insurance” means a surety bond, an insurance policy or, when issued by an insurer, an indemnity contract and any guarantee similar to the foregoing
• § 12101 — An insurer may be organized and admitted to transact financial guaranty insurance in the manner prescribed for stock property and casualty insurers by the laws of this state.
• § 12102 — (a) An insurer with a certificate of authority to transact the business of financial guaranty insurance as defined in Section 12100 may also transact the business of surety insurance as defined in Sec
• § 12103 — Prior to the issuance of a certificate of authority to transact financial guaranty insurance, an insurer shall submit for the approval of the commissioner a plan of operation detailing the types and p
• § 12104 — An admitted financial guaranty insurance corporation shall be subject to all of the provisions of this code applicable to property and casualty insurers to the extent that the provisions are not incon
• § 12105 — The filing fee for a certificate of authority or amended certificate of authority to transact financial guaranty insurance shall be seven thousand four hundred seventy-two dollars ($7,472).
• § 12106 — (a) An admitted financial guaranty insurance corporation’s investments in any one entity insured by that corporation shall not exceed 4 percent of its admitted assets as of the end of the prior calend
• § 12107 — (a) No insurer shall be issued a license to transact financial guaranty insurance unless it has paid-in capital of at least fifteen million dollars ($15,000,000) and surplus of at least eighty-five mi
• § 12108 — (a) An admitted financial guaranty insurance corporation shall establish and maintain a contingency reserve.
• § 12109 — (a) In addition to the contingency reserve, the case basis method or other method as may be prescribed by the commissioner shall be used to determine loss reserves, which shall include a reserve for c
• § 1211 — (a) For the purposes of this section the following definitions shall apply: (1) “Aggregate counterparty exposure” means the sum of the aggregate statement value options, swaptions, caps, floors, and w
• § 12110 — An unearned premium reserve shall be established and maintained net of reinsurance and collateral with respect to all financial guaranty premiums.
• § 12111 — An admitted financial guaranty insurance corporation shall adopt procedures reasonably calculated to ensure, to the extent it is commercially feasible for the financial guaranty insurance corporation,
• § 12112 — (a) Except as provided in Section 12118, financial guaranty insurance may be transacted in this state only by an insurer admitted to transact financial guaranty insurance.
• § 12113 — An admitted financial guaranty insurance corporation shall keep copies of all relevant materials prepared by the insurer or used in the initial underwriting or ongoing monitoring of insured risk; all
• § 12114 — (a) An insurer may insure obligations enumerated in subparagraphs (A), (B), and (C) of paragraph (1) of subdivision (b) of Section 12112 that are not investment grade so long as at least 95 percent of
• § 12115 — A financial guaranty insurance corporation admitted to transact financial guaranty insurance in this state shall limit its exposure to loss, net of collateral and reinsurance, as follows: (a) For muni
• § 12115.5 — (a) If an admitted financial guaranty insurance corporation fails to maintain a rating in any of the top three generic rating classifications by any securities rating agency acceptable to the commissi
• § 12116 — (a) If an admitted financial guaranty insurance corporation at any time exceeds any limitation prescribed by subdivision (a) or (b) of Section 12114 or Section 12115, the corporation shall immediately
• § 12116.5 — (a) The commissioner may, for good cause, implement by regulation, order, or written consent, reasonable conditions or limitations under which any or all admitted financial guaranty insurance corporat
• § 12117 — A financial guaranty insurance corporation shall not be deemed in violation of any limitation prescribed by Section 12115 with respect to any financial guaranty insurance outstanding prior to January
• § 12118 — An admitted insurer transacting financial guaranty insurance in this state but which is not admitted to transact, financial guaranty insurance in this state shall be subject to all the provisions of t
• § 12119 — Policy forms and any amendments thereto shall be filed with the commissioner within 30 days after their use in this state by the financial guaranty insurance corporation.
• § 1212 — (a) Any domestic incorporated insurer having aggregate capital and surplus as of the preceding December 31 of at least twenty-five million dollars ($25,000,000), after investing an amount equal to its
• § 12120 — An admitted financial guaranty insurance corporation with respect to financial guaranty insurance rates, shall not be subject to Sections 1861.
• § 12121 — (a) For financial guaranty insurance that takes effect on or after January 1, 1991, an insurer authorized to transact financial guaranty insurance shall receive credit for reinsurance as an asset or a
• § 12122 — No insurer authorized to transact financial guaranty insurance shall pay any commission to or make any gift of money, property, or other valuable thing to any employee, agent, or representative of any
• § 12124 — An incorporated insurer that does not issue fire, marine, life, liability, workers’ compensation, common carrier liability, surety, title or mortgage policies but does issue other insurance policies o
• § 12125 — (a) Subject to the provisions of this chapter, any insurer admitted to transact any class of insurance in this state, other than title insurance, mortgage insurance, or mortgage guaranty insurance, ma
• § 12126 — Group legal insurance shall mean that form of legal insurance covering groups of persons as defined in this chapter with or without one or more of their dependents and issued upon one of the following
• § 12127 — Group and individual legal insurance may be offered in this state subject to all the following conditions: (a) Premium rates shall comply with any pertinent standards in this code, including the stand
• § 12128 — In every group legal insurance plan, the employer, labor union, trustees, or other person to whom a group legal insurance plan policy is issued shall be the policyholder for all purposes of entering i
• § 12129 — The provisions of this chapter shall be enforced by the commissioner, and he may, after notice and public hearing, promulgate such reasonable rules and regulations as are necessary to administer this
• § 12140 — This part shall not apply to any of the following: (a) A duly authorized attorney at law acting in the usual course of his profession.
• § 12141 — Except where the context otherwise requires, the terms used in this part shall be given the meanings set forth in this chapter, but such meaning shall not, merely by reason of enactment in this chapte
• § 12142 — (a) Except as provided in subdivision (b), a motor club is a person, directly or indirectly engaged, either as principal or agent, in selling or offering for sale, furnishing or procuring motor club s
• § 12142.5 — The commissioner shall adopt reasonable rules and regulations specifying the types of miscellaneous service permitted under subdivision (d) of Section 12140 and subdivision (b) of Section 12142.
• § 12143 — A club agent is a person other than the motor club itself, who acts or aids in any manner in the solicitation, delivery, or negotiation of any membership or service contract, or of the renewal or cont
• § 12144 — Motor club service is the rendering or procuring of, or reimbursement for, any of the services defined in this chapter to any person in connection with the ownership, operation, use, or maintenance of
• § 12145 — Towing service is the drafting or moving by a motor club of a motor vehicle from one place to another under other power than its own.
• § 12146 — Emergency road service is the adjustment, repair or replacement by a motor club of the equipment, tires or mechanical parts of a motor vehicle so as to permit it to be operated under its own power.
• § 12148 — Discount service is an arrangement by a motor club resulting in giving special discounts, rebates or reductions of price on gasoline, oil, repairs, insurance, parts, accessories or service for motor v
• § 12149 — Financial service is an arrangement by a motor club whereby loans or other advances of money are made to holders of service contracts with any such club.
• § 1215 — As used in this article, the following terms shall have the respective meanings hereafter set forth, unless the context shall otherwise require: (a) An “affiliate” of, or person “affiliated” with, a s
• § 1215.1 — (a) Any domestic insurer, either by itself or in cooperation with one or more persons, may organize or acquire one or more subsidiaries subject to the limitations of this section.
• § 1215.10 — (a) Whenever it appears to the commissioner that any insurer or any director, officer, employee, or agent thereof has committed or is about to commit a violation of this article or of any rule, regula
• § 1215.11 — (a) Any insurer that fails to file a statement, report, or request for approval required by this article in a timely manner shall be subject to the late filing fees set forth in Section 924.
• § 1215.12 — Whenever it appears to the commissioner that any person has committed a violation of this article which so impairs the financial condition of a domestic insurer as to threaten insolvency or make the f
• § 1215.13 — Whenever it appears to the commissioner that any person has committed a violation of this article which makes the continued operation of an insurer contrary to the interests of policyholders or the pu
• § 1215.14 — (a) For the purposes of this article only, every foreign insurer, except an insurer described in Article 2 (commencing with Section 12350) of Chapter 1 of Part 6 of Division 2, that is authorized to d
• § 1215.15 — (a) The provisions of this article shall not apply to any party or entity participating in any investment by a home protection company in its subsidiary or affiliate or any debt or security instrument
• § 1215.16 — All laws and parts of laws of this state inconsistent with this article are hereby superseded with respect to matters covered by this article.
• § 1215.17 — If any provision of this article or the application thereof to any person or circumstance is held invalid, the invalidity shall not affect other provisions or applications of this article which can be
• § 1215.18 — (a) If an order for liquidation or rehabilitation of a domestic insurer has been entered, the receiver appointed under that order shall have a right to recover on behalf of the insurer (1) from any pa
• § 1215.2 — (a) A person shall not make a tender offer for, or a request or invitation for tenders of, or enter into an agreement to exchange securities for or acquire in the open market, any voting security, or
• § 1215.3 — The following shall be violations of this article: (a) The failure to file the statement required under subdivision (a) of Section 1215.
• § 1215.4 — (a) Every insurer that is authorized to do business in this state and that is a member of an insurance holding company system shall register with the commissioner, except a foreign insurer subject to
• § 1215.5 — (a) Transactions by registered insurers with their affiliates are subject to the following standards: (1) The terms shall be fair and reasonable and consistent with the current version of Section 19 o
• § 1215.6 — (a) Subject to the limitation contained in this section, and in addition to the powers which the commissioner has under Article 4 (commencing with Section 730) of Chapter 1 of this part relating to th
• § 1215.7 — (a) With respect to any insurer registered under Section 1215.
• § 1215.75 — (a) (1) The commissioner is authorized to act as the groupwide supervisor for any internationally active insurance group in accordance with this section.
• § 1215.8 — (a) All information, documents, and copies thereof obtained by or disclosed to the commissioner or any other person in the course of an examination or investigation made pursuant to Section 1215.
• § 1215.9 — The commissioner may, upon notice and opportunity for all interested persons to be heard, issue such rules, regulations, and orders as shall be necessary to carry out the provisions of this article.
• § 12150 — (a) Buying and selling service is an arrangement by a motor club whereby the holder of a service contract with a motor club is aided in any way in the purchase or sale of an automobile.
• § 12151 — Theft service is an act by a motor club for the purpose of locating, identifying or recovering a stolen or missing motor vehicle owned or controlled by the holder of a service contract with any such c
• § 12152 — Map service is the furnishing by a motor club of road maps without cost to holders of service contracts with any such club.
• § 12153 — Travel service is the furnishing by a motor club of touring and travel aids and assistance, and may include any or all of the following: (a) Road maps, touring guides, directories of accommodations fo
• § 12154 — Claim adjustment service is an act by a motor club for the purpose of adjusting claims on behalf of the holder of a service contract with any such club, when such claim results from injury or damage t
• § 12155 — License service is the rendering of assistance by a motor club to any person in obtaining: (a) Registration of a motor vehicle with the State.
• § 12156 — Insurance service is the selling or giving, with a service contract or as a result of membership in or affiliation with a motor club, of a policy of insurance covering liability or loss by the holder
• § 12157 — Any act by a motor club for the purpose of rendering a service defined in this chapter constitutes such service, whether or not the service as defined is completed.
• § 12158 — A service contract is a written agreement whereby any person promises for a consideration to render, furnish or procure motor club service for any other person.
• § 12159 — Miscellaneous service means any other service which may be furnished and which augments or is incidental to any service performed by the club as authorized under the provisions of this chapter or any
• § 1216 — This article may be cited as the Business Transacted with Producer Controlled Insurer Act.
• § 1216.1 — As used in this article, the following terms have the following meanings: (a) “Accredited state” means a state in which the insurance department or regulatory agency having jurisdiction over the busin
• § 1216.2 — This article shall apply to insurers as defined in subdivision (e) of Section 1216.
• § 1216.3 — (a) (1) The provisions of this section shall apply if, in any calendar year, the aggregate amount of gross written premium of business placed with a controlled insurer by a controlling producer is equ
• § 1216.4 — The controlling producer shall, prior to the effective date of the policy, deliver written notice to the prospective insured disclosing the relationship between the producer and the controlled insurer
• § 1216.5 — (a) (1) If the commissioner believes that the controlling producer or any other person has not materially complied with this article, or any regulation or order issued or promulgated pursuant to this
• § 1216.6 — Controlled insurers and controlling producers who are not in compliance with Section 1216.
• § 12160 — (a) A person shall not render or agree to render motor club service in this state without first obtaining from the commissioner a certificate of authority to act as a motor club.
• § 12161 — Application for a certificate of authority shall be made on a form prescribed by the commissioner, accompanied by a filing fee of four thousand nine hundred thirty-nine dollars ($4,939).
• § 12162 — The commissioner shall not issue a certificate of authority to any motor club until: (a) It files with him or her the following: (1) A formal application for the certificate in that form and detail as
• § 12162.5 — All motor clubs applying for a certificate of authority to act as a motor club in this state shall demonstrate to the satisfaction of the commissioner that such club has a net worth of not less than t
• § 12162.6 — (a) A motor club holding a certificate of authority to act as a motor club granted prior to January 1, 1992, may continue to retain the certificate until July 1, 1996, without complying with the incre
• § 12162.7 — For purposes of this article, “liquid assets” means cash, cash equivalents, and marketable securities readily convertible into cash.
• § 12162.8 — If any portion of the audit report required by paragraph (1) of subdivision (b) of Section 12162.
• § 12163 — (a) The security required by subdivision (b) of Section 12162 shall thereafter be continuously maintained by a motor club in one of the forms prescribed.
• § 12164 — (a) The commissioner may revoke or suspend the certificate of authority of a motor club whenever, after a hearing in accordance with the procedure provided in Section 701, he finds that any of the fol
• § 12165 — Subject to the annual fee provisions herein, every certificate of authority issued or held under this part shall be for an indefinite term and, unless sooner revoked by the commissioner, shall termina
• § 12166 — Notwithstanding the preceding provisions for a certificate of authority of indefinite term, each holder of a certificate of authority under this chapter shall owe and pay in advance to the commissione
• § 12167 — Qualification of a motor club for a certificate of authority under this part does not require prior qualification with the Secretary of State under the Corporations Code for an intrastate business, bu
• § 12168 — Annually on or before March 1 of each year, copies of any instruments making any changes in articles of incorporation, bylaws, and membership certificate or identification card or service contract req
• § 12169 — (a) Whenever the commissioner has reasonable cause to believe that a motor club is insolvent or is transacting its business in a fraudulent manner, he may demand from the club a statement under oath s
• § 12170 — Motor clubs certificated on the effective date of this chapter shall not be required to be recertificated, but thereafter shall be subject to the provisions of this chapter and shall be issued continu
• § 122 — (a) An insurer admitted for all the classes of insurance defined in Sections 102, 107, 108, 112, and 120 is authorized, in addition to the underwriting powers granted by such classes, to include any a
• § 1220 — Domestic incorporated life insurers may also invest any funds in loans upon any of their own policies in an amount not exceeding the reserve against such policy at the time the loan is made, but polic
• § 1221 — The amount thus loaned by an insurer upon its own policies shall be credited to the insurer in determining the amount of deposit required to comply with the provisions of Article 2, Chapter 5, Part 2,
• § 12250 — A service contract shall not be executed, issued or delivered in this State until the form thereof is approved in writing by the commissioner.
• § 12251 — Every service contract executed, issued or delivered in this State shall be made in duplicate and shall be dated and signed by the motor club issuing it.
• § 12252 — A service contract shall not be executed, issued or delivered in this State unless it contains the following: (a) The exact corporate or other name of the club.
• § 12253 — A person shall not solicit or aid in the solicitation of another person to purchase a service contract issued by a club not having a certificate of authority procured pursuant to this part.
• § 12254 — A club or an officer or agent thereof shall not in any manner misrepresent the terms, benefits or privileges of any service contract issued or to be issued by it.
• § 12255 — Any service contract made, issued or delivered contrary to any provision of this part shall nevertheless be valid and binding on the club.
• § 12256 — Any motor club may elect not to execute, issue, or deliver service contracts in this state.
• § 12280 — A club agent doing business in this State shall not execute, issue or deliver any service contract to any person owning or operating motor vehicles without first obtaining a license from the commissio
• § 12280.2 — (a) The fee for filing application for license as motor club agent is eighty-five dollars ($85).
• § 12281 — Without first obtaining such license, a club agent shall not collect or receive from any person, in advance of the execution, issuance or delivery of any such service contract, any money or other thin
• § 123 — An insurer admitted to transact liability insurance may extend such insurance on noncommercial or farm risks to include insurance of the legal liability of the insured for damage to property caused by
• § 1230 — The Legislature declares that the purpose of this article is to establish guidelines for life insurers to use in life insurance policies which contain a provision for periodic adjustment of policy loa
• § 1231 — For the purposes of this article the “published monthly average” means: (a) Moody’s Corporate Bond Yield Average-Monthly Average Corporates as published by Moody’s Investors Service, Inc.
• § 12311 — Any person violating any provisions of this part is guilty of a misdemeanor.
• § 1232 — (a) Policies issued on or after the effective date of this article shall provide for policy loan interest rates at either of the following rates: (1) A provision permitting a maximum interest rate of
• § 1233 — If the maximum rate of interest is determined pursuant to paragraph (2) of subdivision (a) of Section 1232, the policy shall contain a provision setting forth the frequency at which the rate is to be
• § 1234 — The maximum rate for each policy shall be determined at regular intervals at least once every 12 months, but not more frequently than once in any three-month period.
• § 12340 — The definitions set forth in this article shall govern the construction of the terms used in this chapter, but shall not affect any other provisions of this code.
• § 12340.1 — “Title insurance” means insuring, guaranteeing or indemnifying owners of real or personal property or the holders of liens or encumbrances thereon or others interested therein against loss or damage s
• § 12340.10 — “Abstract of title” is a written representation, provided pursuant to a contract, whether written or oral, intended to be relied upon by the person who has contracted for the receipt of such represent
• § 12340.11 — “Preliminary report”, “commitment”, or “binder” are reports furnished in connection with an application for title insurance and are offers to issue a title policy subject to the stated exceptions set
• § 12340.13 — “Business location” means a facility or other place of business in this state where an underwritten title company or controlled escrow company engages in the business of conducting escrow services.
• § 12340.2 — “Title policy” means any written instrument or contract by means of which title insurance liability is assumed.
• § 12340.3 — “Business of title insurance” includes: (a) Issuing or proposing to issue any title policy as insurer, guarantor, or indemnitor; (b) Transacting or proposing to transact any phase of title insurance,
• § 12340.4 — “Title insurer” means any company issuing title policies as insurer, guarantor or indemnitor.
• § 12340.5 — “Underwritten title company” means any corporation engaged in the business of preparing title searches, title examinations, title reports, certificates or abstracts of title upon the basis of which a
• § 12340.6 — (a) “Controlled escrow company” means any person, other than a title insurer or underwritten title company, whose principal business is the handling of escrows of real property transactions in connect
• § 12340.7 — Except as provided in Section 12401.
• § 12340.8 — “Advisory organization” means every person or entity (other than a title insurer, underwritten title company, or controlled escrow company) which recommends or prepares policy forms or endorsements, o
• § 12340.9 — “Willful” or “willfully” in relation to an act or omission which constitutes a violation of this chapter means with actual knowledge or belief that such act or omission constitutes such violation and
• § 12342 — For purposes of this chapter, “holders of liens or encumbrances” includes, but is not limited to, the institutional third parties described in Sections 1452 and 1717 of Title 12 of the United States C
• § 1235 — The life insurer shall do all of the following: (1) Notify the policyholder at the time a cash loan is made of the initial rate of interest on the loan.
• § 12350 — Every title insurer, before issuing any policy, shall deposit $100,000 with the Insurance Commissioner or other designated official of its home State as a “guarantee fund” for the security and protect
• § 12351 — Any such deposit may be made either in lawful money of the United States or in any of the securities, other than collateral trust bonds or notes, authorized for investment, other than excess funds inv
• § 12352 — If the deposit is made in this state, it shall first be approved by the commissioner who shall make a special deposit thereof in the State Treasury, for the purpose specified in Section 12350.
• § 12353 — Except as provided in section 12355, assets in such deposits in this State may, with the approval of the commissioner, be withdrawn or exchanged from time to time for other assets of like character an
• § 12354 — As long as the depositing insurer continues solvent, it shall receive the interest and dividends on any assets in the deposit.
• § 12355 — Except on withdrawal of the insurer from this State, or substitution pursuant to section 12353, assets in the deposit in this State shall be subject to final sale, transfer, and disposal of the procee
• § 12356 — When any part of the assets to be deposited in this State consists of mortgage-secured notes or bonds, or loans upon real property secured by mortgage, such mortgages shall be accompanied by a policy
• § 12357 — Unless the mortgage is covered by mortgage insurance, the value of the property covered by each such mortgage constituting all or part of such deposit in this State shall be appraised by one or more a
• § 12358 — The reasonable cost of examining such evidence of title and of making such appraisement, shall be paid by the title insurer making the deposit.
• § 12359 — A title insurer shall not transact any insurance in this state unless it has paid-in capital represented by shares of stock of at least five hundred thousand dollars ($500,000).
• § 1236 — The loan value of the policy shall be equivalent to the cash surrender value of the policy, the minimum requirements of which are specified in Sections 10160 through 10165 for life insurance and in Se
• § 12360 — An insurer which anywhere in the United States transacts any class of insurance other than title insurance is not eligible for the issuance of a certificate of authority to transact title insurance in
• § 1237 — The substance of the pertinent provisions of Section 1232 and 1233 shall be set forth in the policies to which the provisions apply.
• § 12370 — Every title insurer shall annually set apart a sum equal to 10 percent of its premiums collected during the year.
• § 12371 — The title insurance surplus fund shall be maintained as a further security to holders and beneficiaries of the title policies issued by the insurer.
• § 12372 — Any such domestic insurer, after having its required capital paid in and depositing its required guarantee fund with the State Treasurer, may invest its funds in the preparation and purchase of materi
• § 12372.5 — Notwithstanding the provisions of Section 12372, where a title plant is not being currently maintained, the asset value of such plant shall not exceed its asset value as of the last annual statement d
• § 12373 — A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following: (a) The aggregate
• § 12374 — Except as otherwise authorized by subdivision (g) of Section 1105, a title insurer shall not directly or indirectly make a loan from its assets to any of its officers, directors or employees, or to an
• § 12375 — Whenever a title insurer, upon withdrawing from insurance business in this State, desires to reinsure its policies with a title insurer whose “title insurance surplus fund” is not fully made up, the c
• § 12376 — (a) If an underwritten title company is placed into bankruptcy, receivership, or conservation by the commissioner, each title insurer operating under an underwriting agreement with the underwritten ti
• § 12377 — (a) All escrow funds received by an underwritten title company that are subject to Section 12413.
• § 1238 — For the purposes of this section: (1) The rate of interest on policy loans permitted under this section includes the interest rate charged on reinstatement of policy loans for the period during and af
• § 12380 — Unless the provision or context otherwise requires, the following definitions govern the construction of this article: (a) “Total charges for policies of title insurance” means (i) the total of fees a
• § 12381 — Every domestic title insurer shall, in addition to other reserves, establish and maintain a reserve to be known as the “unearned premium reserve” for title insurance, which shall, at all times for all
• § 12382 — The unearned premium reserve of every title insurer shall consist of: (a) Such amount as would have been required to be set aside in said reserve on all policies or contracts of title insurance issued
• § 12382.2 — (a) Out of total charges for policies of title insurance, a title insurer shall add to and set aside in its unearned premium reserve commencing as of January 1, 1965, an amount equal to 2 percent of t
• § 12382.3 — The aggregate amount set aside in the unearned premium reserve shall be separately recorded and reserved in respect to such policies and contracts issued in each calendar year.
• § 12382.4 — For the purpose of determining the amounts of the unearned premium reserve that may be withdrawn pursuant to Section 12382.
• § 12382.5 — (a) The aggregate of the amounts set aside in unearned premium reserve in any calendar year pursuant to subdivision (a) of Section 12382.
• § 12382.6 — If substantially the entire outstanding liability under all policies and contracts of title insurance or reinsurance of any ceding company shall be reinsured, pursuant to and as authorized by Section
• § 12383 — All amounts set aside in the unearned premium reserve of a title insurer shall be held either as cash on hand or shall be deposited or invested in those investments suitable for the investment of trus
• § 12384 — If the aggregate amount set aside by a title insurer in its unearned premium reserve should at any time be less than the amount required to be maintained in such reserve, and the deficiency shall not
• § 12385 — If a title insurer shall at any time become insolvent, be in the process of liquidation or dissolution or be in the possession of the commissioner, all amounts set aside in the unearned premium reserv
• § 12386 — In the event that reinsurance is not obtained, as authorized by Section 12385, the unearned premium reserve and assets constituting the guarantee fund of the title insurer, or so much as remains there
• § 12387 — Where a title insurer organized or incorporated under the laws of any state other than California does business in California, if the laws of the state of its domicile obligate such company to create
• § 12388 — Every title insurer shall, in addition to other reserves establish and maintain a reserve to be known as the “reserve for unpaid losses and loss adjustment expense”, which shall be used for the paymen
• § 12389 — (a) On and after July 1, 2016, an underwritten title company as defined in Section 12340.
• § 12389.1 — Before granting a license or a reissued license to act as an underwritten title company to any applicant, the commissioner shall consider the qualifications of the applicant in respect to the followin
• § 12389.2 — After the issuance or reissuance of a license to act as an underwritten title company, the holder shall continue to comply with the requirements as to its business set forth in Section 12389.
• § 12389.3 — When there exists a restriction in a stock certificate requiring the consent of the department prior to the transfer of the stock, the request for consent to transfer shall be submitted to the departm
• § 12389.4 — An underwritten title company shall furnish a quarterly financial statement to the commissioner on forms prescribed by the commissioner on or before 30 days after each calendar quarter ending March 31
• § 12389.5 — Every person engaged in the business of preparing title searches, title examinations, title reports, and certificates of abstracts of title, upon which a title insurer writes title policies, is requir
• § 12389.6 — (a) Prior to the disbursement by an underwritten title company from any escrow account under Section 12413.
• § 12389.7 — (a) Sections 1070, 1070.
• § 1239 — No other provision of law shall apply to policy loan interest rates unless made specifically applicable to these rates.
• § 1239.5 — The provisions of this article shall not apply to any insurance contract issued before the effective date of this article unless the policyholder agrees in writing to the applicability of these provis
• § 12390 — Every domestic title insurer may issue title policies and may also insure: (a) The identity, due execution, and validity of any note or bond secured by mortgage.
• § 12391 — Such insurer also may: (a) Act as registrar or transfer agent of this State, or of any political subdivision or district therein, or of any private or public corporation.
• § 12394 — A title insurer, as to its title insurance department, shall be subject to and shall comply with all the requirements of the insurance laws and the rules and regulations of the commissioner.
• § 12396 — (a) For purposes of this article, “controlled business source” means an affiliate, as defined in subdivision (a) of Section 1215, of any title insurer, controlled escrow company, or underwritten title
• § 12397 — Any applicant for a license shall indicate the applicant’s intent to actively compete in the marketplace for title insurance in each county in which the applicant seeks to or does conduct the business
• § 12397.5 — (a) Each licensee shall make submissions as are required by the Department of Insurance to enable the department to determine the nature and extent of the licensee’s efforts to actively compete in eac
• § 12398 — The failure of an applicant or licensee to comply with any of the requirements of this article shall be grounds for the denial of an application for a license, the suspension or revocation of an issue
• § 12399 — Nothing in this article shall limit or preclude the consideration or approval of an application for a license, except as expressly provided in this article.
• § 124 — “Financial guaranty insurance” means that insurance as defined by Section 12100.
• § 124.5 — “Homeowners’ insurance” means insurance covering the risks described in subdivision (a) of Section 675.
• § 1240 — The following definitions shall apply in this article: (a) “Foreign currency” means a currency other than that of the United States.
• § 12400 — The provisions of subdivision (f) of Section 381, and the provisions of Sections 382, 383, 383.
• § 12400.1 — Article 5.
• § 12400.5 — A title insurance company or underwritten title company engaged in the business of title insurance, as defined in Section 12340.
• § 12401 — The purpose of this article is to promote the public welfare by regulating rates for the business of title insurance as herein provided to the end that they shall not be excessive, inadequate or unfai
• § 12401.1 — Every title insurer, underwritten title company, and controlled escrow company shall file with the commissioner its schedules of rates, all regularly issued forms of title policies to which such rates