California Insurance Code

§ 12960

INS § 12960 Effective Jan 1, 2023Div. 3 · Ch. 2 · Art. 3

Statute text

The commissioner shall, by February 1, 2023, distribute a bulletin soliciting rate applications from insurers to account for the change to the financial responsibility law in Division 7 (commencing with Section 16000) of the Vehicle Code that will go into operation on January 1, 2025, and require the applications to be submitted by July 1, 2023. A rate change shall only go into effect on or after January 1, 2025, the operative date of the change in the financial responsibility law.

Legislative history

Added by Stats. 2022, Ch. 717, Sec. 1. (SB 1107) Effective January 1, 2023.