An incorporated insurer issuing surety policies on the reserve basis shall be governed by the paid-in capital and surplus requirements of Sections 700. 01 to 700.05, inclusive.
Cal. Ins. Code § 12050
Capital and Scope of Business
Applied in 3 court decisions — leading case 84 Cal. App. 4th 605 - Walt Rankin & Associates, Inc. v. City of Murrieta (2000)
Most recently applied in 84 Cal. App. 4th 605 - Walt Rankin & Associates, Inc. v. City of Murrieta (October 2000)
Amended by Stats. 1953, Ch. 958.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.