California Insurance Code

§ 11885

INS § 11885 Effective Jul 28, 2009Div. 2 · Part 3 · Ch. 4 · Art. 7

Statute text

(a)The Director of Finance is hereby authorized to act as agent for the state and, in that capacity, to sell a portion of, or otherwise obtain value for, the State Compensation Insurance Fund’s assets and liabilities. That authorized sale or other disposition shall be transacted with an entity that the director, in consultation with the State Treasurer, determines will provide the best combination of each of the following:

(1)The highest price for the State Compensation Insurance Fund’s workers’ compensation insurance assets and liabilities or the best value to the General Fund, or both.

(2)The greatest security for the payment of the purchase price.

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Legislative history

Added by Stats. 2009, 4th Ex. Sess., Ch. 12, Sec. 21. Effective July 28, 2009.