California Law (Last Updated: March 4, 2014) |
Insurance Code - INS |
Division 2. CLASSES OF INSURANCE |
Part 1. FIRE AND MARINE INSURANCE |
Chapter 6. County Mutual Fire Reinsurers |
ARTICLE 6. Assessments and Coverage of Loss |
Section 8093.
Latest version.
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The board of directors may at their annual meeting levy an assessment not exceeding twenty-five cents on the $100 of reinsurance. The sum so raised shall constitute a reserve fund to be used in emergency cases only. Another assessment for this purpose shall not be made while this reserve fund remains intact.
(Enacted by Stats. 1935, Ch. 145.)