California Insurance Code

§ 1070.6

INS § 1070.6 Effective Jan 1, 2014Div. 1 · Part 2 · Ch. 1 · Art. 15

Statute text

The withdrawal procedure and fees prescribed by this article shall not be required of a nonsurviving admitted constituent to a merger or consolidation into another admitted insurer in accordance with the applicable statutes and the commissioner’s prior written consent given pursuant to subdivision (c) of Section 1011, provided the commissioner is satisfied by documents, authenticated so as to be admissible in evidence over objection, filed with him or her, that:

(a)The constituent has discharged all of its liabilities to residents of this state in the manner provided by Section 1071.5;

(b)There will be an admitted insurer directly available to the constituent’s policyholders: (1) to obtain policy changes and endorsements, (2) to receive payment of premiums and refund unearned premiums, (3) to serve notice of claim, proof of loss, summons, process, and other papers, and (4) for purposes of suit;

…

Legislative history

Amended by Stats. 2013, Ch. 321, Sec. 11. (AB 1391) Effective January 1, 2014.