Insurance Code - INS
DIVISION 2. CLASSES OF INSURANCE [1880 - 12880.6]
( Division 2 enacted by Stats. 1935, Ch. 145. ) PART 1. FIRE AND MARINE INSURANCE [1880 - 10108.1]
( Part 1 enacted by Stats. 1935, Ch. 145. ) CHAPTER 4. General Mutual Insurers [4010 - 4097.20]
( Chapter 4 added by Stats. 1963, Ch. 1772. ) ARTICLE 7. Insolvency [4070- 4070.]
( Article 7 added by Stats. 1963, Ch. 1772. ) 4070.
Such an insurer is insolvent if its surplus becomes less than the amount of paid-in capital required of a capital stock company to qualify to transact the same classes of insurance.
(Added by Stats. 1963, Ch. 1772.)