A mortgage guaranty insurer transacting the class of insurance defined in paragraph (2) of subdivision (a) of Section 12640.02 may reinsure with either the type of reinsurer defined in subdivision (d) of Section 12640.09, or, any other insurer which has received written permission from the commissioner to write the type of insurance defined in paragraph (2) of subdivision (a) of Section 12640.02.
Cal. Ins. Code § 12640.095
Limitations and Restrictions for Transacting Business
Known as the Mortgage Guaranty Insurance Act
The act spans §§ 12640–12640 (23 sections).
Added by Stats. 1982, Ch. 1084, Sec. 4.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.