An incorporated life insurer issuing policies on the reserve basis shall not transact life insurance in this state unless it has a paid-in capital of at least two million two hundred fifty thousand dollars ($2,250,000) plus the surplus required by Section 700.02 and Section 700.05.
Cal. Ins. Code § 10510
Capital
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Amended by Stats. 1989, Ch. 418, Sec. 3.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.