The organization under which such subscribers so exchange contracts is termed a reciprocal or interinsurance exchange, and shall be deemed the insurer while each subscriber shall be deemed an insured.
Cal. Ins. Code § 1303
Organization of Exchange
Applied in 1 court decision — leading case 417 F. Supp. 2d 399 - Country Rock Café, Inc. v. Truck Insurance Exchange (2006)
Most recently applied in 417 F. Supp. 2d 399 - Country Rock Café, Inc. v. Truck Insurance Exchange (February 2006)
Amended by Stats. 1963, Ch. 1649.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.