California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 2. CLASSES OF INSURANCE |
Part 1. FIRE AND MARINE INSURANCE |
Chapter 4. General Mutual Insurers |
ARTICLE 7. Insolvency |
Section 4070.
Latest version.
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Such an insurer is insolvent if its surplus becomes less than the amount of paid-in capital required of a capital stock company to qualify to transact the same classes of insurance.
(Added by Stats. 1963, Ch. 1772.)