The exchange may sue or be sued in its own name as in the case of an individual. Any judgment rendered against the exchange shall be binding upon each subscriber only in such proportion as his interests may appear.
Cal. Ins. Code § 1450
Suits
Applied in 3 court decisions — leading case 96 Cal. App. 2d 876 - CAL. STATE AUTO. ASSN. ETC. v. Downey (1950)
Most recently applied in 417 F. Supp. 2d 399 - Country Rock Café, Inc. v. Truck Insurance Exchange (February 2006)
Enacted by Stats. 1935, Ch. 145.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.