Insurance Code - INS
DIVISION 2. CLASSES OF INSURANCE [1880 - 12880.6]
( Division 2 enacted by Stats. 1935, Ch. 145. ) PART 4. MISCELLANEOUS CASUALTY INSURANCES [12050 - 12129]
( Part 4 enacted by Stats. 1935, Ch. 145. ) CHAPTER 1. Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances [12050 - 12122]
( Chapter 1 enacted by Stats. 1935, Ch. 145. ) ARTICLE 1. Capital and Scope of Business [12050 - 12055]
( Article 1 enacted by Stats. 1935, Ch. 145. ) 12051.
During the first three years following its admission, the insurer’s assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is approved by the commissioner, of the United States government, any State, or any county in this State.
(Enacted by Stats. 1935, Ch. 145.)