California Insurance Code

§ 11621.2

INS § 11621.2 Effective Jan 1, 2002Div. 2 · Part 3 · Ch. 1 · Art. 4

Statute text

(a)An insurer that is no longer licensed to write automobile liability insurance in this state shall have its plan business treated in the same manner as its voluntary business and shall not receive new assignments.

(b)The runoff of existing plan business shall be conducted in an orderly manner with policies nonrenewed upon the next anniversary date.

(c)An insurer that elects to surrender its license or has its license to do business in this state revoked shall comply with the following requirements:

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Legislative history

Amended by Stats. 2001, Ch. 159, Sec. 150. Effective January 1, 2002.