California Insurance Code

§ 1374

INS § 1374Div. 1 · Part 2 · Ch. 3 · Art. 5

Statute text

In estimating the financial condition of any exchange the commissioner shall observe the following rules:

(a)He or she shall charge as liabilities the same reserves as are required of incorporated insurers issuing nonassessable policies on a reserve basis.

(b)Surplus deposits of subscribers shall not be charged as a liability.

…

Legislative history

Amended by Stats. 1984, Ch. 564, Sec. 2.