If the commissioner shall decide, after due notice and hearing that the interest of any company having real estate acquired pursuant to the provisions of Section 1194.8 requires that any specific parcel or parcels of such real estate be disposed of, then such insurance company shall dispose of such real estate within such reasonable time as the commissioner shall direct.
Cal. Ins. Code § 1194.9
Property Authorized for Excess Funds Investments
Applied in 1 court decision — leading case Industrial Indemnity Co. v. Golden State Co. (1953)
Most recently applied in Industrial Indemnity Co. v. Golden State Co. (April 1953)
Added by Stats. 1945, Ch. 1073.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.