CHAPTER 2. Administration
Chapter 2 added by Stats. 1993, Ch. 115, Sec. 4.
§§ 51610–51643.5 · 22 sections
- § 51610 (a) The agency shall, with respect to the implementation of this part, and notwithstanding any other provision of law, have the general powers set forth in…
- § 51611 (a) The California Housing Loan Insurance Fund is hereby created in the State Treasury. (b) The California Housing Insurance Fund is hereby renamed the…
- § 51614 (a) The agency is hereby vested with full power, authority, and jurisdiction over the insurance fund. The agency may perform all acts necessary or convenient…
- § 51615 (a) Division 10 (commencing with Section 7920.000) of Title 1 of, and Article 9 (commencing with Section 11120) of Chapter 1 of, Chapter 3.5 (commencing with…
- § 51616 The state shall not be liable beyond the assets of the insurance fund for any obligations in connection therewith.
- § 51620 In conducting the business and affairs of the insurance fund, the executive director may do any of the following: (a) Enter into contracts of insurance. (b)…
- § 51622 (a) The agency may contract with any private person or public agency for review of the administration of this part and for assistance in implementing this…
- § 51623 (a) The California Housing Loan Insurance Fund, as provided for pursuant to Section 51653 as it read prior to the effective date of the act that adds this…
- § 51624 (a) The agency shall prepare a preliminary budget for the agency’s activities under this part on or before December 1 of each year for the ensuing fiscal year,…
- § 51625 (a) The agency shall cause all moneys in the insurance fund which are in excess of current requirements to be invested and reinvested, from time to time, in…
- § 51626 The insurance fund shall be organized as a public enterprise fund.
- § 51627 The assets of the insurance fund shall be applicable to the payment of losses sustained on account of insurance and to the payment of the salaries and other…
- § 51628 The agency shall, after a reasonable time during which it may establish a business, be competitive with other insurers, and it is the intent of the Legislature…
- § 51632 Claims arising out of activities of the agency on behalf of the insurance fund pursuant to this part are exempted from the provisions of Part 3 (commencing…
- § 51636 Except as provided in this part, the agency, on behalf of the insurance fund pursuant to this part, shall not be subject to the provisions of the Government…
- § 51637 With respect to the administration of the insurance fund, the agency shall be subject to the provisions of Chapter 10.3 (commencing with Section 3512) of…
- § 51639 The agency shall establish reserve accounts for unearned premiums, losses, and potential catastrophic losses caused by economic cycles. The agency shall not…
- § 51640 There is hereby continued in existence a bond insurance reserve account in the insurance fund to secure commitments under contracts to insure bonds. The agency…
- § 51641 The agency may create other accounts within the insurance fund as it deems are necessary or convenient to carry out the purposes of this part.
- § 51642 (a) The obligation of the agency and of the state to pay any insurance benefit pursuant to contracts of insurance insuring loans or bonds shall not exceed…
- § 51643 The agency shall not be required to pay any tax or assessment on any property owned by the fund or upon the income therefrom.
- § 51643.5 (a) The agency shall be subject to, and comply with, the same reserve certification requirements as mortgage guaranty insurers who are licensed pursuant to…