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Cal. Ins. Code § 1371

Finances

Showing this section's text as in effect on January 1, 2011 (in force January 1, 2011 – January 1, 2019). View current text →

If an exchange does either liability or workmen’s compensation insurance, it shall at all times maintain assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities of one hundred thousand dollars ($100,000).

An exchange subject to the provisions of this section is also subject to the provisions of Sections 1370.2, 1370.4 and 1370.8.

Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.