{"code":"INS","codeName":"Insurance Code","section":"12373","citation":"Ins. Code, § 12373","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 6. INSURANCE COVERING LAND [12340. - 12661.]","url":"https://blackletter.si/insurance-code/division-2/part-6"},{"name":"CHAPTER 1. Title Insurance [12340. - 12418.4.]","url":"https://blackletter.si/insurance-code/division-2/part-6/chapter-1"},{"name":"ARTICLE 3. Title Insurers: Finances and Investments [12370. - 12377.]","url":"https://blackletter.si/insurance-code/division-2/part-6/chapter-1/article-3"}],"history":"Amended by Stats. 1965, Ch. 272.","effective":null,"html":"<p>A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following:</p><p>(a) The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares;</p><p>(b) The amount required to be set apart as the title insurance surplus fund; </p><p>(c) The amount required to be maintained in the unearned premium reserve;</p><p>(d) The amount required to be maintained in the reserve for unpaid losses and loss adjustment expense;</p><p>(e) A sum sufficient to pay all liabilities for expenses and taxes and all other indebtedness.</p>","text":"A title insurer shall not make any dividends except from profits remaining on hand after retaining unimpaired assets aggregating in value an amount equal to the sum of the following: (a) The aggregate par value of the shares of its capital stock issued and outstanding, including treasury shares; (b) The amount required to be set apart as the title insurance surplus fund; (c) The amount required to be maintained in the unearned premium reserve; (d) The amount required to be maintained in the reserve for unpaid losses and loss adjustment expense; (e) A sum sufficient to pay all liabilities for expenses and taxes and all other indebtedness.","otherVersions":[],"url":"https://blackletter.si/insurance-code/title-insurers-finances-and-investments-12373","source":"California Legislative Information bulk export (pubinfo)"}