{"code":"INS","codeName":"Insurance Code","section":"12051","citation":"Ins. Code, § 12051","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 2. CLASSES OF INSURANCE [1880. - 12880.8.]","url":"https://blackletter.si/insurance-code/division-2"},{"name":"PART 4. MISCELLANEOUS CASUALTY INSURANCES [12050. - 12129.]","url":"https://blackletter.si/insurance-code/division-2/part-4"},{"name":"CHAPTER 1. Surety Insurers on Reserve Basis; Capital Requirements and Permitted Insurances [12050. - 12122.]","url":"https://blackletter.si/insurance-code/division-2/part-4/chapter-1"},{"name":"ARTICLE 1. Capital and Scope of Business [12050. - 12055.]","url":"https://blackletter.si/insurance-code/division-2/part-4/chapter-1/article-1"}],"history":"Enacted by Stats. 1935, Ch. 145.","effective":null,"html":"<p>During the first three years following its admission, the insurer’s assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is approved by the commissioner, of the United States government, any State, or any county in this State.</p>","text":"During the first three years following its admission, the insurer’s assets in an amount equal to its required paid-in capital shall be in cash or in the value of obligations, purchase of which is approved by the commissioner, of the United States government, any State, or any county in this State.","otherVersions":[],"url":"https://blackletter.si/insurance-code/capital-and-scope-of-business-12051","source":"California Legislative Information bulk export (pubinfo)"}