Any unsatisfied net liability or outstanding assessment owed by an insolvent member participating in the fund shall be assumed by and apportioned among the remaining members in the fund in the same manner in which assessments are levied by the fund. The fund shall have all rights allowed by law on behalf of the remaining members against the insolvent member for sums due the fund.
Cal. Ins. Code § 10723
Voluntary Reinsurance Mechanism
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Added by Stats. 1992, Ch. 1128, Sec. 10
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.