California Insurance Code

§ 12373

INS § 12373Div. 2 · Part 6 · Ch. 1 · Art. 3

Statute text

A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:

(a)The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares;

(b)The amount required to be set apart as the title insurance surplus fund;

…

Legislative history

Amended by Stats. 1965, Ch. 272.