Every title insurer, before issuing any policy, shall deposit $100,000 with the Insurance Commissioner or other designated official of its home State as a “guarantee fund” for the security and protection of the holders of, or beneficiaries under, its title policies.
Cal. Ins. Code § 12350
Title Insurers; Capital and Guarantee Fund Requirements
Amended by Stats. 1935, Ch. 292.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.