{"code":"INS","codeName":"Insurance Code","section":"12640.03","citation":"Ins. Code, § 12640.03","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 2A. Mortgage Guaranty Insurance [12640.01. - 12640.20.]","url":"https://blackletter.si/insurance-code/division-2/part-6/chapter-2a"},{"name":"ARTICLE 2. Capital, Surplus and Contingency Reserve Requirements [12640.03. - 12640.06.]","url":"https://blackletter.si/insurance-code/division-2/part-6/chapter-2a/article-2"}],"history":"Added by Stats. 1961, Ch. 719.","effective":null,"html":"<p>An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).</p>","text":"An insurer shall not transact the business of mortgage guaranty insurance unless it has paid-in capital of at least one million dollars ($1,000,000) and paid-in surplus of at least one million dollars ($1,000,000).","otherVersions":[],"url":"https://blackletter.si/insurance-code/capital-surplus-and-contingency-reserve-requirements-12640-03","source":"California Legislative Information bulk export (pubinfo)"}