{"code":"INS","codeName":"Insurance Code","section":"1372","citation":"Ins. Code, § 1372","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1. GENERAL RULES GOVERNING INSURANCE [100. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1"},{"name":"PART 2. THE BUSINESS OF INSURANCE [680. - 1879.8.]","url":"https://blackletter.si/insurance-code/division-1/part-2"},{"name":"CHAPTER 3. Reciprocal Insurers [1280. - 1560.19.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-3"},{"name":"ARTICLE 5. Finances [1370. - 1375.]","url":"https://blackletter.si/insurance-code/division-1/part-2/chapter-3/article-5"}],"history":"Amended by Stats. 1961, Ch. 454.","effective":null,"html":"<p>Every other exchange shall maintain at all times assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities of fifty thousand dollars ($50,000).</p><p>An exchange subject to the provisions of this section is also subject to the provisions of Sections <a href=\"/ins/1370.2\">1370.2</a>, <a href=\"/ins/1370.4\">1370.4</a>, and <a href=\"/ins/1370.8\">1370.8</a>.</p>","text":"Every other exchange shall maintain at all times assets in a sum sufficient to discharge all liabilities and to provide a surplus over all liabilities of fifty thousand dollars ($50,000). An exchange subject to the provisions of this section is also subject to the provisions of Sections 1370.2, 1370.4, and 1370.8.","otherVersions":[],"url":"https://blackletter.si/insurance-code/finances-1372","source":"California Legislative Information bulk export (pubinfo)"}