BlackletterCalifornia law

Insurance Code § 5062

ARTICLE 1. Formation and Organization

Current as of September 28, 2026Ins. Code, § 5062Official source ↗

Added by Stats. 1955, Ch. 1250.

No incorporators or persons acting in their behalf or other persons participating in the management of such insurer shall advance to or for the subscribers or members any premium, special deposit or assessment required to be paid. It is the intent of this chapter that no person shall have a proprietary interest in such insurer, except equally with all other members.