California Insurance Code

§ 935.6

INS § 935.6 Effective Jan 1, 2014Div. 1 · Part 2 · Ch. 1 · Art. 10.6

Statute text

(a)An insurer shall be exempt from the requirements of this article if both of the following apply:

(1)The insurer has annual direct written and unaffiliated assumed premiums, including international direct and assumed premiums, but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, less than five hundred million dollars ($500,000,000).

(2)The insurance group of which the insurer is a member has annual direct written and unaffiliated assumed premiums, including international direct and assumed premiums, but excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, less than one billion dollars ($1,000,000,000).

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Legislative history

Added by Stats. 2013, Ch. 238, Sec. 1. (AB 584) Effective January 1, 2014. Section operative January 1, 2015, pursuant to Section 935.11.