California Insurance Code

§ 1063.1

INS § 1063.1 Effective Jan 1, 2023Div. 1 · Part 2 · Ch. 1 · Art. 14.2

Statute text

As used in this article:

(a)“Member insurer” means an insurer required to be a member of the association in accordance with subdivision (a) of Section 1063, except and to the extent that the insurer is participating in an insolvency program adopted by the United States government.

(b)“Insolvent insurer” means an insurer that was a member insurer of the association, consistent with paragraph (11) of subdivision (c), either at the time the policy was issued or when the insured event occurred, and against which an order of liquidation with a finding of insolvency has been entered by a court of competent jurisdiction, or, in the case of the State Compensation Insurance Fund, if a finding of insolvency is made by a duly enacted legislative measure.

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Legislative history

Amended by Stats. 2022, Ch. 408, Sec. 2. (AB 2154) Effective January 1, 2023.