A CO-OP 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 class of disability and health insurance. The conservation and liquidation provisions of Article 14 (commencing with Section 1010) of Chapter 1 of Part 2 of Division 1 shall apply to CO-OP insurers.
Cal. Ins. Code § 10930.7
Consumer Operated and Oriented Plans
Known as the Health Insurance Disclosure Act
The act spans §§ 10110–11549 (1,209 sections).
Added by Stats. 2012, Ch. 859, 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.