An insurer, notwithstanding the provisions of any contingent or retrospective compensation arrangement with any person, shall maintain as a liability, as part of its unearned premium reserve the unearned portion of all premium charges made to insureds without deduction for uncollected charges.
Cal. Ins. Code § 995.4
Obligations of Automobile Insurers and Their Agents Under Contingent and Retrospective Compensation Arrangements
Added by Stats. 1965, Ch. 1818.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.