California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 2. CLASSES OF INSURANCE |
Part 2. LIFE AND DISABILITY INSURANCE |
Chapter 8. Small Employer Health Insurance |
ARTICLE 3. Voluntary Reinsurance Mechanism |
Section 10722.
Latest version.
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If assessments exceed actual losses and administrative expenses of the fund, the excess shall be held at interest and used by the fund to offset future losses or to reduce fund premiums. As used in this paragraph, "future losses" includes reserves for incurred but not reported claims.
(Added by Stats. 1992, Ch. 1128, Sec. 10. Effective January 1, 1993. Operative July 1, 1993, by Sec. 15 of Ch. 1128.)